Saks Global Enterprises’ debt has sunk to new lows in recent days as the luxury retailer faces a more than $100 million interest payment deadline …
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Saks
Saks owner sues Puck News, claiming outlet ran ‘hit pieces’
Luxury giant Saks Global has sued the publisher of Puck News, claiming that the site failed to disclose a reporter’s “conflict of interest” as he …
Report: Saks Global to Sell $1 Billion Stake in Bergdorf Goodman
Saks Global is looking to offload a 49 percent stake in New York City luxury department store Bergdorf Goodman, The Wall Street Journal reported Sunday, …
Saks Is Exploring Options for Bergdorf Goodman, WWD Reports
Saks Global Enterprises LLC is exploring strategic options for Bergdorf Goodman, including selling a minority position in the luxury department store, WWD reported. The company …
Saks on Amazon Hosts Hamptons Style Soirée
On Thursday, Saks Fifth Avenue and Amazon Fashion joined forces to celebrate the launch of Saks on Amazon—a curated luxury storefront bringing the best of …
Saks Launches Debt Swap After Seeking Minority Lender Deals
Saks Global Enterprises has launched a debt exchange following weeks of negotiations with creditors as its $600 million fresh financing takes shape, according to a …
S&P Cuts Saks’ Credit Rating Over New Financing Package
S&P Global Ratings downgraded Saks Global Enterprises LLC credit rating by three notches after the company announced a $600 million financing package that includes a …
Saks Is Ceding Ground to Luxury Rivals After Buying Neiman Marcus
The $2.7 billion acquisition of Neiman Marcus by Saks Fifth Avenue’s owner last year was supposed to create a luxury powerhouse. Instead, both department stores …
Saks Gets $600 Million Lifeline as Creditors Face Steep Losses
Saks Global Enterprises has reached a $600 million debt deal with a number of its existing lenders that would force some creditors to accept losses …
With Financing Push, Saks Global Looks to Buy Some Time
Saks Global’s liquidity crunch has come to a head. Amid mounting concerns about the department store operator’s ability to meet an interest payment due next …
Saks Creditors Form Majority Group Ahead of Potential Debt Talks
Saks Global Enterprises creditors that hold more than half of its $2.2 billion bond due 2029 have organised and are preparing for potential talks with …
Saks Bond Suffers $1 Billion Loss Before a Single Payment Is Made
It was supposed to be just what Saks needed to turn things around. By taking over struggling rival Neiman Marcus, the pitch went, the iconic …
Saks Hires Kirkland & Ellis, PJT to Explore Financing Options
Saks Global Enterprises tapped PJT Partners, Kirkland & Ellis and Bank of America Corp. to help it explore ways to raise new financing alongside the …
Amazon Isn’t the Solution to Saks’ Problems
When Saks Global announced its partnership with Amazon this week to open a new storefront on the long-fledgling Amazon Luxury Stores platform, the news was …
Saks Bonds Plunge as Investor Update Deepens Cash Concerns
The bonds of department store Saks Global Enterprises sank deeper into distress on Monday after a call with management fell short of reassuring investors’ concerns …
High-End Department Store Retailer Saks Launches Amazon Storefront
Saks Fifth Avenue is launching a storefront on Amazon.com where it will sell high-end, designer products from Dolce & Gabbana and Balmain in the e-commerce …
Reports: Saks Global Culls Corporate Workforce, Shutters Warehouse in Tennessee
Saks Global moved to consolidate its business this week, laying off hundreds of workers across its corporate offices, stores and a fulfilment centre in Tennessee, …
Virgil Abloh Autobiography, Parker Posey’s New Gig, and Layoffs at Saks Global
Image courtesy of people.com We love Parker Posey in “White Lotus,” now in its third season. But, you will probably love Parker Posey even more …
Saks Global Is Laying Off About 5% of US Corporate Workers
Saks Global is laying off around 5 percent of its US corporate workforce, according to a person familiar with the plan, as the department store …
Poor Payors: Assessing the Storm Around Saks
Dear BoF Community, Late last week, we started to receive DMs and WhatsApp messages with screenshots of a letter written by Saks Global CEO Marc …