Richard Baker Becomes Saks Global CEO Amid Potential Bailout Talks

#NewYork, #USA
Marc Metrick resigned as Saks Global CEO as the luxury retailer reportedly prepares for a bankruptcy filing following a missed 100 million dollar debt payment.Richard Baker will take over the leadership role to stabilize the company after it struggled with the heavy debt load from its 2.7 billion dollar acquisition of Neiman Marcus.Analysts described the merger as a disaster while vendors reportedly halted shipments due to the ongoing financial instability.
Published:2h |Updated:1h
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