Saks Global Holdings LLC (Saks Global) filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas on Jan. 13. Saks Global is the parent company of several luxury retailers, including Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.
The news came on the heels of multiple indications of trouble for the company, including the sale of the land below Neiman Marcus in Beverly Hills, a change in leadership and reports that the company could not pay its vendors.
