Saks Global, owner of Saks Fifth Avenue and Neiman Marcus, files for bankruptcy with unpaid bills to Chanel, Gucci, and others totaling hundreds of millions. The collapse marks the end of America's last luxury department store empire.
Saks Global Enterprises has filed for Chapter 11 bankruptcy in Texas to address mounting losses and a massive debt load. The luxury retailer operates Saks Fifth Avenue, Bergdorf Goodman, and Neiman Marcus.
Saks Global's prime real estate portfolio could provide crucial leverage with lenders during bankruptcy. The luxury retailer may monetize assets through sale-leaseback deals while navigating vendor challenges.
Saks Global filed for bankruptcy late Tuesday, marking another major US retail collapse just one year after acquiring Neiman Marcus amid fierce competition.
Antonio Brown's journey from NFL stardom to financial ruin shows how quickly fortunes can change. This detailed timeline tracks his earnings from 2010 to 2026.
Richard Baker departs as CEO of Saks Global Enterprises just days after appointment, with the luxury retailer preparing for Chapter 11 bankruptcy filing.
The Indian government has accepted nearly all parliamentary panel recommendations for IBC amendments to speed up resolutions and protect new investors, but flagged a key concern on retrospective application. Read the full details.
Bankrupt First Brands Group sues ex-executive Edward James and creditor Onset Financial, alleging a $2.9 billion fraud scheme. Read the full details of the lawsuit.
The $2.7 billion luxury retail merger of Saks and Neiman Marcus has led to a debt crisis, delayed vendor payments, and potential bankruptcy. Discover the inside story of the failed deal.
The government may announce reforms to SARFAESI Act and DRT procedures in Budget 2026-27 to clear backlog of 178,000 cases and speed up debt recoveries. Key changes aim to reduce litigation.
Former NFL superstar Antonio Brown's net worth is now estimated at -$3 million. Explore his dramatic financial fall from $80M career earnings to Chapter 7 bankruptcy.
Amex Platinum cardholders are rushing to use Saks credits as bankruptcy looms. Learn what experts say about gift card safety and how past retail cases unfolded.
As Parliament gears up for the 2026 Budget Session, high-stakes bills on simultaneous elections, higher education, and financial markets await final clearance. Get the full analysis of India's legislative roadmap.
BJP's Ashoka criticizes CM Siddaramaiah on equalling Devaraj Urs's record, alleging financial mismanagement has pushed Karnataka towards bankruptcy. Read the full political clash.
Jefferies presses to question First Brands founder under oath amid a $715M invoice scandal. The legal battle intensifies as the former CEO cites the Fifth Amendment. Read the full details.
Saks Global Enterprises is negotiating a $1 billion loan for a potential Chapter 11 bankruptcy filing. The luxury retailer missed a $100M interest payment and faces sales decline. Read the full story.
In 2008, Tesla neared bankruptcy as Elon Musk, amidst his divorce, raged at executives over faulty Roadster parts. Discover the untold story of Tesla's darkest hour. Read the full report.
A new study shows an 87% success rate for discharging student loans via bankruptcy, debunking a persistent myth. Learn how policy changes have made this path more accessible for millions of borrowers.
The upcoming FY27 Union Budget will push for deregulation & decriminalisation of laws to fuel India's medium-term growth. Key amendments to Companies Act & IBC expected. Read more.
Old footage reveals Elon Musk's tense 2008 ultimatum to Tesla team as both Tesla and SpaceX neared bankruptcy. Discover the inside story of the 'skin of their teeth' era. Read more.
NCLAT overturns NCLT's dismissal of Culver Max's insolvency plea against Rechargekit Fintech, citing denial of opportunity to rectify defects. The case is remanded back to NCLT for fresh hearing.
EAC-PM's Sanjeev Sanyal argues that allowing companies to fail is vital for India's economic dynamism. Learn why a 'continuous churn' is necessary for long-term strength.
iRobot's co-founder Colin Angle explains how Chinese competitors and a blocked Amazon deal led to Roomba maker's bankruptcy. Read the full analysis of the robot vacuum market shift.
Saks Global Enterprises faces a critical $100+ million debt payment on Dec 30, exploring Chapter 11 bankruptcy and emergency funding. Read the full analysis of the luxury retailer's financial crisis.
A parliamentary panel recommends allowing multiple resolution plans for different assets of an insolvent firm, aiming to boost value and attract bidders. Explore the potential shift in India's insolvency landscape.
Saks Global Enterprises is exploring Chapter 11 bankruptcy as a last resort before a crucial $100 million debt payment due Dec 30. The luxury retailer's turnaround plan has faltered. Read more.
Lease-to-own firm FlexShopper files for Chapter 11 bankruptcy with over $100M liabilities. Read about the CEO fraud scandal and the planned sale to Snap Finance.
Lok Sabha panel chief Baijayant Panda calls IBC amendments a 'game-changer' to halve resolution time and boost recoveries. Bill excludes project-specific insolvency for real estate.
A FAT Brands shareholder sues, alleging the firm hid over $1.4B debt & used high-interest loans. Stock hits a 5-year low. Read about the bankruptcy risk & legal battle.
Former BluSmart CEO Anirudh Arun now heads Refex Mobility, which is bidding for the bankrupt EV cab operator's 5,000+ charging stations and tech stack. The move could reshape India's green mobility sector.