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Amazon blasts Saks' bankruptcy plan as wiping out its $475M stake, threatening drastic action in court. After a failed Neiman Marcus merger, Saks fights for $1.75B financing amid creditor clashes in Houston.
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Saks Global's bankruptcy creates openings for Macy's to seize luxury market share in beauty and fashion, amid debt woes and restructuring. Analysts see a once-in-a-lifetime chance for Macy's turnaround.
Saks Global, owner of Saks Fifth Avenue, filed for Chapter 11 bankruptcy on January 14, 2026, overwhelmed by $5 billion in debt from its 2025 Neiman Marcus merger amid declining luxury sales and online competition. Despite $1.75 billion in financing, the retailer's future remains uncertain.
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Saks Global's Chapter 11 filing exposes the perils of its $2.7 billion Neiman Marcus deal, crushed by debt, vendor cutoffs and luxury weakness. With $1.75 billion in financing, stores stay open as closures loom and restructuring begins.
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