Saks Global Files for Bankruptcy, Prepares To Restructure

Name: Saks Global Files for Bankruptcy, Prepares To Restructure
Uploaded: 2026-01-14T09:22:53.1370000-05:00
Description: Luxury retailer Saks Global has filed for Chapter 11 bankruptcy as it looks to restructure its finances. The move follows significant debt from its $2.65 billion acquisition of Neiman Marcus and growing customer resistance to steep price increases. The company says it has secured about $1.75 billion in financing commitments to support the restructuring.

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Luxury retailer Saks Global has filed for Chapter 11 bankruptcy as it looks to restructure its finances. The move follows significant debt from its $2.65 billion acquisition of Neiman Marcus and growing customer resistance to steep price increases. The company says it has secured about $1.75 billion in financing commitments to support the restructuring.