Private equity firms eye Neiman Marcus

The private equity firms, which bought the Dallas-based retailer in 2005 for $5.1 billion, have interviewed banks and are about to hire Credit Suisse Group AG to run the dual track process, according to the report, which cited two people familiar with the situation.

A Credit Suisse spokesman declined to comment. E-mails to Warburg, Neiman Marcus and TPG were not immediately returned.

TPG and Warburg are in the early stages of exploring their options and if they do not find a buyer or demand is weak for an IPO, they may decide to pursue a dividend recapitalization instead, according to the report.