"This is a defining moment for Saks Global, and the path ahead presents a meaningful opportunity to strengthen the foundation of our business and position it for the future," Saks Global CEO Geoffroy van Raemdonck,

Luxury retailer Saks Global has filed for bankruptcy, preparing to reposition itself after obtaining about $1.75 billion in financing commitments

Saks Global, the luxury retail parent company of Neiman Marcus, Bergdorf Goodman and Saks Fifth Avenue, announced late Tuesday that it has filed for bankruptcy.

Saks Global has secured roughly $1.75 billion in financing, the New York company said as filed for Chapter 11 bankruptcy Wednesday in the Southern District of Texas. The private company said that stores will remain open as it restructures company debt,

Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, filed for Chapter 11 bankruptcy protection.

It’s the end of an era, some might say. 2026 might be the beginning of the end for some of New York City’s most beloved luxury department stores. As of Wednesday, Saks Global, the parent company of Saks Fifth Avenue,