Saks Global
Definition
Saks Global is an American luxury retail holding company and the parent entity of iconic department stores including Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, and others, positioning itself as the world's largest multi-brand luxury retailer.
Recently filed for Chapter 11 bankruptcy protection amid financial struggles following acquisitions and heavy debt loads.
Examples
Saks Global's bankruptcy filing turned Wall Street's champagne dreams into a clearance rack reality.
Shoppers rejoiced at the rumors of Saks Global fire sales, proving luxury bargains are the ultimate plot twist.
After swallowing Neiman Marcus, Saks Global learned that even empires built on designer heels can stumble.
Saks Global's debt woes remind us that not all that glitters can pay the restructuring bills.