Pins matching tag:Bankruptcy

Saks Global failed to make a bond interest payment of more than $100 million that was due on 30 December 2025, entering a grace period while it negotiated with creditors, just under five months after its last debt restructuring.

Saks Global Enterprises and roughly 113 affiliates filed for Chapter 11 bankruptcy in the Southern District of Texas, seeking court approval for a $1 billion debtor-in-possession loan after missing a $100 million bond interest payment weeks earlier, a year after its debt-funded purchase of Neiman Marcus.