Saks

Saks Global is an American department store company resulting from the integration of Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks Off 5th, owned by Hudson’s Bay Company (HBC).

In a move to stabilize operations and address outstanding debt, a judge has greenlit a preliminary capital injection. This is a segment of a comprehensive $1.75 billion initiative, earmarked for supplier and employee payments.

Puig Seeks $12 Million from Saks Amid Bankruptcy Proceedings

Spain’s fashion, fragrance, and cosmetics giant joins the growing list of creditors for Saks, standing alongside industry heavyweights such as Kering, LVMH, Richemont, Christian Louboutin, Giorgio Armani, and Zegna.

The American luxury department store giant has finally filed for bankruptcy after months of debt struggles. The move aims to secure more leverage for a potential restructuring or sale.

Saks Heads to Court Amidst Unresolved Debt Issues

The luxury department store giant from the U.S. is heading towards Chapter 11 bankruptcy due to mounting debt. An official bankruptcy filing is anticipated in the coming days.

Saks Pursues $1 Billion Financing Deal to Sidestep Insolvency

Sources indicate that the American retail powerhouse is engaging in discussions with creditors to avoid bankruptcy, a move that has previously been implemented over the past months.

Saks on the Brink: Struggling to Manage Mounting Debt Crisis

Leadership shakeup at prominent U.S. department store: Mark Metrick exits CEO role amidst crisis, with Richard Baker named as successor for Saks.

Facing a staggering $100 million debt, the U.S. department store chain is on the brink of bankruptcy, with the repayment deadline fast approaching by the end of the month.

In a bid to ease its debt burden, the luxury retailer is on the lookout for an investor to acquire 49% of Bergdorf Goodman, valued at $1 billion, following its recent Neiman Marcus acquisition.

The american department store group, born from the merger of Saks with Neiman Marcus, has recorded declines in both sales and profits this year. The group expects to achieve annual savings of $600 million.

The department store group is going through a critical financial period, with high indebtedness that is forcing its creditors to accept losses. The company, which has already cut 3% of its workforce, needs liquidity in the short term.