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Posted on 12/23/2025 10:56:42 AM PST by Red Badger
Saks Global Enterprises, the parent company of luxury department store chain Saks Fifth Avenue, is considering a potential Chapter 11 bankruptcy filing as a last-resort option to address mounting liquidity constraints and near-term debt obligations, according to a Bloomberg report.
The publication reported that Saks is evaluating bankruptcy as part of a broader effort to manage its balance sheet rather than as an imminent filing.
The company faces a debt payment of more than $100 million due by the end of December, limiting its financial flexibility.
According to the report, which cited people with knowledge of the matter, Saks has been exploring several alternatives to avoid a court-supervised restructuring, including raising emergency financing, selling assets, and negotiating with lenders for additional liquidity.
The company has also been reassessing the priority of certain debt obligations as part of its broader turnaround efforts.
Saks Global has not publicly commented on the report.
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They are negotiating the issues with the threat of bankruptcy filing at this time. Saves all the legal court things.
Yep, they tell the creditors they are ‘thinking’ of bankruptcy to get them to agree to a longer term.
But I see no upside to this. Their customers have grown old and are dying off rapidly. The young well-to-do use Amazon................
I wonder how much Saks Global has lost paying “reparations” to gangs of looting ‘teens?’
They went woke and one of the things did was stop carrying Trump’s daughters merch
I’ve never seen anything Saks level on Amazon...
A lot of Saks’ vendors are now selling on Amazon. In part because Saks stopped paying them. Saks is in a death spiral, largely due to them missing the boat on e-commerce, failing to appeal to anyone born after 1973, and just being completely tone deaf.
If anyone even thinks of shedding a tear for these clowns this link will cure it:
https://www.saksfifthavenue.com/c/the-edit-content/053122/lgbtq-fashion
Go woke.
Go broke.
Bye bye!
11, not 7.
That’s the important part.
More here...
At this point, I wouldn’t recommend new lending except as part of post petition priority financing.
The usual response to “lend me more money or I’ll file for bankruptcy” is “File for bankruptcy and I’ll lend you money”.
Whoever said, “Nobody ever went broke catering to rich people.” didn’t live in this Internet era.............
The problem is those of us who grew up buying things that fit now people don’t care if it fits, they just spray-and-pray.
Do department stores still offer alterations? I remember when that was common; but I don’t shop in stores anymore. (Even the less fancy department stores had beauty salons, too; the ones near me ceased long ago.)
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