Saks Global, the parent company of Saks Fifth Avenue, Bergdorf Goodman, and Neiman Marcus, is facing severe financial strain after a year marked by missed vendor payments, lawsuits, and heavy debt. Despite its glittering holiday displays, the retailer is considering a Chapter 11 bankruptcy as shipments from major brands remain on hold.
Saks Face Bankruptcy
Its $2.7 billion merger with Neiman Marcus in 2024, financed largely by junk bonds, left the company cash‑strapped and unable to meet obligations. Vendors are owed hundreds of millions, lawsuits are piling up, and analysts warn inventory shortages could cripple upcoming seasons. Bankruptcy or asset sales may be inevitable.
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