Saks Global files for bankruptcy after Neiman Marcus takeover leads to financial collapse
14/01/2026 04:51
Jan 13 (Reuters) - High-end department store conglomerate Saks Global filed for bankruptcy protection late on Tuesday in one of the largest retail collapses since the pandemic. The move cast uncertainty over the future of U.S. luxury fashion barely a year after a takeover that brought Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof. Sales at U.S. department stores shrunk since the turn of the century https://reut.rs/4jC5qik Market share of online personal luxury goods set to spike in next five years https://reut.rs/44WbJqQ From luxury powerhouse to the brink: how Saks' big merger bet failed https://www.reuters.com/sustainability/sustainable-finance-reporting/luxury-powerhouse-brink-how-saks-big-merger-bet-failed-2026-01-08/ (Reporting by Juveria Tabassum, Anuja Bharat Mistry, Sanskriti Shekhar and Savyata Mishra in Bengaluru and Nicholas P. Brown and Dietrich Knauth in New York; Editing by Sriraj Kalluvila, Lisa Jucca, Rosalba O'Brien and Jamie Freed) ((Juveria.Tabassum@thomsonreuters.com))