Last updated: 2026-01-15 13:46:04 ET
Saks used $2.2 billion in junk bonds to buy Neiman Marcus, but didn't have enough money left over to pay vendors, which led the company to declare bankruptcy.
Debt-riddled retail giant’s demise has cast uncertainty over the future of US luxury fashionBeleaguered high-end department store conglomerate Saks ...
Saks Global, which also owns Neiman Marcus and Bergdorf Goodman, filed for bankruptcy protection after running out of cash.
The Chapter 11 filing announced on Wednesday for the iconic, century-plus-old retailer — which oversees Saks Fifth Avenue, Neiman Marcus, Bergdorf G...
The venerable retailer is seeking protection from its creditors after $2.65 billion purchase of Nieman Marcus failed to spark growth.
The announcement comes after Saks missed a $100 million interest payment that was connected to its nearly $2.6 billion acquisition of Neiman Marcus in 2024.
The parent company of Saks, Neiman Marcus and Bergdorf Goodman struggled with debt, designers and customers in recent years.
Saks Global was close to finalizing a $1.75 billion financing package with creditors that would allow its stores to remain open, two people familiar...
Geoffroy van Raemdonck, who led Neiman Marcus for nearly seven years and left the company in 2024 when it was acquired by Saks, has been tapped to ste...
Notre Dame head football coach Marcus Freeman is under investigation
