Last month, a famous New York-based company filed for Chapter 11 bankruptcy protection, and as a result, they’re closing a majority of their discount stores.
Saks Global Enterprises, who owns Saks Fifth Avenue department store and their discount store, Saks Off Fifth, said in their bankruptcy filing that they’re in $2.5 billion in debt from its 2024 acquisition of Neiman Marcus.
BROUGHT TO YOU BY…