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The Latest Breaking News from Saks

Saks and Neiman Marcus Parent Company Erases Name and Massacres Discount Stores in Shocking Bankruptcy Exit

Exemplar Luxury Group exits bankruptcy, rebrands, and reduces discount stores to focus on high-end retail, aiming for stability through exclusivity and personalised service.

International Business Times UK

Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name

Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman, officially emerged from Chapter 11 bankruptcy Friday with fewer stores, less debt, a more focused strategy to pamper the affluent — and a new name

The Independent UK

Woman takes Tinder date to the mall. Then he disappeared in the bathroom for 20 minutes: ‘I am SPEECHLESS’

Reason enough to get off the apps.

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Saks Global culls large chunk of its corporate workforce

About 640 jobs will be cut. When Saks filed for bankruptcy in January, it employed about 17,000 people

The Independent UK

Apple is closing stores in three states as it begins to pull back on mall locations

Workers at each location are reportely being treated differently in the process

The Independent UK

Saks Global to shutter 15 more department stores in bankruptcy restructuring

The parent company of Saks Fifth Avenue and Neiman Marcus is closing more of its department stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring

The Independent UK

Fashion’s big reset: Can the new guard bring back the good old days?

With revenues falling, accusations of ‘greedflation’ and labour scandals, panic has hit the ateliers. Will fresh talent and strategic U-turns help the luxury labels turn the tide, asks John Arlidge

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Michael Kors celebrates 45-year career by toasting chic women of New York

Night at the opera theme for Kors’ autumn-winter collection features elegant gowns draped in opulent coats

The Guardian - UK

Dozens of Saks Off 5th stores to close after bankruptcy filing, liquidation sales begin

Saks Global filed for Chapter 11 bankruptcy earlier this month

The Independent UK

Saks Bankruptcy Sparks Fears Macy's and Other Department Stores Could Be Heading the Same Way

Saks' bankruptcy raises alarm as Macy's and other department stores face closures, empty malls, and declining in-store shoppers.

International Business Times UK

CEO leading Saks Global through bankruptcy has a management philosophy of 'leading with love'

Also: All the news and watercooler chat from Fortune.

Fortune

‘The consumers are still out there’: why a bankruptcy for Saks Global may not spell the end

Just more than a year after the new luxury behemoth was formed, it announced it had filed for chapter 11 bankruptcy

The Guardian - US

Can Saks' new CEO repair the damage done to the luxury retailer by years of being treated as a 'financial plaything'?

Geoffroy van Raemdonck's first order of business will be to win back fashion brands.

Fortune

Saks files for bankruptcy, leaving the future of its stores up in the air

‘This is a defining moment for Saks Global,’ the firm’s new CEO said

The Independent UK

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The Guardian - US

Saks Global files for bankruptcy after takeover leads to financial collapse

Debt-riddled retail giant’s demise has cast uncertainty over the future of US luxury fashion

The Independent UK

Luxury retailer Saks Global files for bankruptcy as it prepares to restructure

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

International Business Times UK

Saks Fifth Avenue Owner on Brink of Bankruptcy as Consumers Pull Back on Non-Essential Spending

Saks Global, owner of Saks Fifth Avenue, is set to file for Chapter 11 bankruptcy as consumers cut discretionary spending and heavy debt from a costly merger burdens the retailer's finances.

Fortune

Saks Global's near bankruptcy is the result of risky dealmaking—and a neglect of business basics

Also: All the news and watercooler chat from Fortune.

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news in one place.

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Fortune

How a real estate scion's risky dealmaking pushed Saks Global to the brink

With vendors angry and luxury shoppers deserting in droves, the department store chain’s new CEO, Richard Baker, faces a tough slog.

International Business Times UK

Saks CEO Steps Down: What Went Wrong in the Final Months

Saks Global replaces its CEO amid debt pressure, missed payments, and a slowdown in luxury sales, exposing the risks of rapid expansion and bold mergers.

The Independent UK

Saks may be heading for bankruptcy despite raising billions: report

Saks’ $2.65 billion acquisition of competitor Neiman Marcus put the company in more debt

The Mary Sue

‘Nordstroms would never do me like that’: North Texas woman orders JW Anderson handbag from Neiman Marcus. Then she opens the package

A North Texas woman says a luxury shopping splurge through Neiman Marcus didn’t go as planned. Instead of delivering the expensive JW Anderson handbag she paid for, she says the company sent her something much smaller and far cheaper.

The Independent UK

A senator’s wife, a tragic suicide and bullying claims: Strand Books owner accuses late assistant of major theft in new twist

Exclusive: Nancy Bass Wyden told The Independent that Brandon O’Brien made a ‘deliberate effort ... to ingratiate himself with [my] children over time, gaining their trust in order to twist isolated interactions and steal from me and my family’

Marie Claire

The Best Labor Day Weekend Sales Have Arrived to Upgrade Your Fall Beauty Routine

Score major discounts on editor-favorite brands like Phlur, Cyklar, Supergoop, and more.

Fortune

Saks Global is luxury’s last best hope

The combination of Saks and Neiman Marcus into a single entity represents one of the most significant developments in U.S. luxury retail in decades.

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