Lates News

American luxury retail and real estate asset company Saks Global is seeking bankruptcy protection under Chapter 11 of the Bankruptcy Code, citing heavy debt from its 2024 acquisition of Neiman Marcus and inventory pressures. The company's stores remain open and it has secured up to $1.75 billion in financing. Geoffroy van Raemdonck, former CEO of Neiman Marcus, has been appointed as CEO during this process.