BUSINESSWDIV CLICKONDETROIT
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 financing, and a new name, 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.
Mentioned
Related Signal
Adjacent reporting
- Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name
- Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name
- Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name
- Men’s Wearhouse Owner Files Confidentially for IPO
- West Marine Files Bankruptcy to Cut Debt, Close More Stores
- Saks emerges from bankruptcy with new name and focus on luxe retail