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The Nexus
BUSINESSJun 26 · 23:38 UTCWPLG LOCAL 10 MIAMIBy ANNE D'INNOCENZIO, Associated Press

Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name

Saks Global, parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, emerged from Chapter 11 bankruptcy with a 75% debt reduction, $500 million in new financing, and a rebrand as Exemplar Luxury Group. The company closed most of its Saks Off 5th discount stores and now operates 49 total stores, partnering with Pentwater Capital Management and Bracebridge Capital during its restructuring.

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Mentioned
Exemplar Luxury GrouporganizationSaks GlobalorganizationGeoffroy van RaemdonckpersonNeiman MarcusorganizationSaks Fifth AvenueorganizationBergdorf GoodmanorganizationPentwater Capital ManagementorganizationBracebridge Capitalorganization
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