Luxury Retailer Saks Global Files for Bankruptcy
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Luxury retailer Saks files for bankruptcy after missing $100 million payment, triggering restructuring amid mounting debt from Neiman Marcus acquisition.
Buckling under the weight of financial pressures, Saks Global filed for bankruptcy late Tuesday, naming a previous CEO of Neiman Marcus to lead the company. The New York company filed for Chapter 11 in the U.
Saks Global, which took on significant debt when it acquired Neiman Marcus in 2024, filed for Chapter 11 bankruptcy in the Southern District of Texas on Tuesday.
A once-booming breakfast favorite is facing major financial trouble after years of expansion and recent closures. The company says this isn’t the end — but the numbers tell a bigger story.