The announcement comes after Saks missed a $100 million interest payment that was connected to its nearly $2.7 billion acquisition of Neiman Marcus in 2024.
Saks' CEO Baker to Exit Luxury Retailer Ahead of Bankruptcy Bloomberg.comSaks Global files for bankruptcy after Neiman Marcus takeover leads to financial collapse ReutersSaks Global Files for Bankruptcy, Undone by Debt and a Luxury Slump The Wall Street JournalSaks Files for Bankruptcy as Department Stores Fight for Survival The New York Times
