Saks Global Files for Bankruptcy After Missing Luxury Brand Payments

#NewYork, #USA
Saks Global filed for bankruptcy after falling behind on payments to luxury brands including Chanel and Kering.The company, which owns Saks Fifth Avenue and Neiman Marcus, cited significant debt and a downturn in demand for high-end goods.All retail locations will remain open during the restructuring process as the firm attempts to navigate competition from e-commerce.
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#SaksGlobal#Chanel#Kering#SaksFifthAvenue#NeimanMarcus#USA
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