Initiating a restructuring following a $100 million USD interest default.

NEW YORK >> High-end department store conglomerate Saks Global filed for bankruptcy protection late on Tuesday in one of the largest retail collapses since the pandemic, barely a year after a deal intended to create a luxury powerhouse brought Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof.

Luxury retailer Saks Global has filed for bankruptcy, preparing to reposition itself after obtaining about $1.75 billion in financing commitments.

Luxury retailer Saks Global has filed for bankruptcy, preparing to reposition itself in the increasingly competitive upscale market after obtaining about $1.75 billion in financing commitments. The New York-based private company that owns retailers Saks Fifth Avenue and Neiman Marcus said in a release Wednesday that it had filed for…

Saks Global, the company that owns Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, has filed for bankruptcy protection.

Saks Global's Chapter 11 move means changes, but stores like Neiman Marcus remain open. Find out what's next for the retail giant.

The retailer's bankruptcy filing comes about a year and a half after Saks bought Neiman Marcus and Bergman Goodman.