Iconic department store group Saks files for bankruptcy protection
Saks, one of the most famous retailers in the world, has sought Chapter 11 bankruptcy protection as it seeks to establish “a strong and stable future”.
Saks Global, which also owns the Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman businesses among others, revealed its bankruptcy filing alongside what it described as a ”transformative financial transaction” and the appointment of a new chief executive.
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