Saks bankruptcy filing creates uncertainty for iconic stores, suppliers and shoppers

Key Highlights

• While the retailer's stores remain open for now, the bankruptcy and restructuring could likely impact the assortment of designer brands customers find online or in their local Neiman Marcus or Saks, according to industry experts.
• Many brands stopped shipping their goods weeks ago as Saks Global's financial distress became more evident and bankruptcy appeared inevitable, experts said.
• A visit to Saks Fifth Avenue's flagship store in Manhattan last week revealed noticeable merchandise gaps, including handbags and shoes spread out along shelves.
• Neil Saunders of GlobalData Retail, a research firm, noted it's critical for Saks to have a good assortment including trendy items from small niche brands.
• “If Saks or Neiman Marcus are not offering that, those customers will find somewhere else to shop," he said.