Saks Global received court approval Friday (Feb. 20) for a $1 billion bankruptcy loan, Reuters reported Friday. The financing had been held up by vendors’ concerns that they may not get paid for goods they shipped to the luxury retailer before it declared bankruptcy, according...
Bankrupt department store company Saks Global is ending its eCommerce partnership with Amazon. That’s according to a Friday (Jan. 30) report from Reuters, which noted that the arrangement between the two companies had already been strained when Saks filed for bankruptcy last month, even though...
Saks Global will wind down the majority of its off-price operations, including most Saks OFF 5TH locations and all Neiman Marcus Last Call stores, Reuters reported Thursday (Jan. 29). The conglomerate, which filed for Chapter 11 protection earlier this month, stated the move aims to...
Amazon is reportedly challenging luxury retailer Saks Global’s bankruptcy filing. The eCommerce giant accuses the company of breaking an agreement on the sale of Saks products on its website, Bloomberg News reported Wednesday (Jan. 14), citing a court filing. Amazon had made an equity investment...
October 11, 2024
The luxury goods market is witnessing a notable trend toward strategic partnerships. Rather than retreating in the face of challenges, industry players are doubling down on collaboration to fortify their positions. This week, Mytheresa announced its acquisition of YNAP from Richemont, with the goal of creating a leading global digital luxury group. This move will […]
January 19, 2023
Lab-grown diamonds are gaining ground with consumers and retailers as sustainability meets luxury online and in-store. If there’s one brand to watch, it’s VRAI (pronounced “vray” meaning “true” in French),...
April 03, 2026
Saks Global has secured $500 million in exit financing from a group of its senior secured bondholders and expects to emerge from Chapter 11 this summer. The luxury retailer expects to file a plan of reorganization within weeks, it said in a Thursday (April 3) press release. Saks Global CEO Geoffroy van Raemdonck said in the release that the bondholders’ commitment […]
February 20, 2026
Saks Global received court approval Friday (Feb. 20) for a $1 billion bankruptcy loan, Reuters reported Friday. The financing had been held up by vendors’ concerns that they may not...
February 01, 2026
Bankrupt department store company Saks Global is ending its eCommerce partnership with Amazon. That’s according to a Friday (Jan. 30) report from Reuters, which noted that the arrangement between the...
January 29, 2026
Saks Global will wind down the majority of its off-price operations, including most Saks OFF 5TH locations and all Neiman Marcus Last Call stores, Reuters reported Thursday (Jan. 29). The...
