Saks Global faces pivotal year as court approves bankruptcy exit plans

The company will slash debt by 75%, get $500 million in new financing and aim for $9 billion in GMV by 2030. But now customers need to come back. Saks Global’s plan to wrap up its Chapter 11 restructuring received approval from the U.S. Bankruptcy Court for the Southern District of Texas on Friday, slashing the luxury giant’s debt by almost 75% to roughly $1.2 billion.
Read more...

;