Amazon Challenges Saks Global Financing as Geoffroy van Raemdonck Takes Lead

#NewYork, #USA
Amazon is disputing the 1.75 billion dollar bankruptcy financing of Saks Global after the retailer filed for protection and appointed Geoffroy van Raemdonck as the new CEO.The tech giant alleges that the financing plan violates existing agreements made during the Saks Global acquisition of Neiman Marcus and warns of potential claims regarding management misconduct.While industry experts note the previous success of Geoffroy van Raemdonck in restructuring Neiman Marcus, smaller brands remain concerned about receiving payments for outstanding inventory shipments.
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