Companies

Saks Global bankruptcy comes two years after Neiman Marcus acquisition: List of major US retail giant collapses

January 14, 2026

Saks Global, which owns Saks Fifth Avenue and Neiman Marcus, has filed for Chapter 11 bankruptcy due to intense competition from online retailers and mounting debt from its recent acquisition of Neiman Marcus. This bankruptcy marks one of the largest retail collapses since the COVID-19 pandemic and raises concerns about the future of the luxury retail market in the U. S.

Saks Global bankruptcy comes two years after Neiman Marcus acquisition: List of major US retail giant collapses

Credit: Livemint

Key Highlights

Saks Global filed for Chapter 11 bankruptcy on Tuesday.
The company owns Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman.
Saks struggled with debt from its acquisition of Neiman Marcus.
The bankruptcy is one of the largest retail failures since the pandemic.
There is growing uncertainty about the future of luxury fashion in the U. S.

Business US news Economics Retail industry Consumer spending Luxury goods sector

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Saks Global bankruptcy comes two years after Neiman Marcus acquisition: List of major US retail giant collapses

Key Highlights

Sources

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