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Luxury retail giant Saks files for bankruptcy
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Luxury retail giant Saks files for bankruptcy

https://www.businessinsider.com/saks-files-bankruptcy-neiman-marcus-bergdorf-goodman-2026-1https://www.cnbc.com/2026/01/14/saks-global-files-for-bankruptcy-protection.htmlhttps://www.cnn.com/2026/01/14/business/saks-global-files-for-bankruptcy-retail-hnk
Businessinsider.com and 9 more
  • Saks Global filed for Chapter 11 bankruptcy protection, listing Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman among its brands as it restructures debt amid a tough luxury retail backdrop.
  • Geoffroy van Raemdonck, former Neiman Marcus chief, will immediately take the helm as CEO during the Chapter 11 proceedings.
  • The 2024 $2.7 billion Neiman Marcus deal, backed by Amazon and Salesforce, left Saks burdened by high interest payments and vendor concerns.
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