The owner of Saks Fifth Avenue is seeking bankruptcy protection, buffeted by rising competition and the massive debt it took on to buy its rival in the luxury sector, Neiman Marcus, just over a year … [+3203 chars]
Luxury retailer Saks seeks bankruptcy protection overwhelmed by debt - ABC News
Luxury retailer Saks Global has filed for bankruptcy, preparing to reposition itself after obtaining about $1.75 billion in financing commitments
By:ANNE D'INNOCENZIO Associated Press, ELAINE KURTENBACH Associated Press
Source:ABC News
Published:
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