Saks Global is facing mounting legal and financial pressure as more vendors head to court over unpaid invoices, just as the luxury retailer scrambles to secure fresh funding and stave off a potential bankruptcy filing.
Vendor lawsuits pile up
Over the past two years, a growing list of brands and service providers has sued Saks Global and related entities, alleging nonpayment for apparel, accessories, jewelry, and services delivered under purchase orders, consignment deals, and advertising agreements. Recent suits include wear makers Jovani Fashion Ltd. and Catherine Regehr Inc., which together claim more than $400,000 is owed for goods sold between late 2024 and 2025.
Other plaintiffs range from trim and label supplier International Trimmings & Labels Inc. (seeking about $40,690) to digital ad firm Criteo Corp. (alleging $251,953 in unpaid fees), plus staffing agencies and accessories brands with claims running into the hundreds of thousands of dollars. Earlier cases dating…
back to 2023–2024 include travel case company Floyd GmbH (about $31,032 allegedly unpaid) and jewelry brand Lithos USA Inc., which says $325,706 is outstanding on consigned pieces and repairs. A company on the brink The legal onslaught comes as Saks Global reportedly considers a Chapter 11 bankruptcy filing after missing a $100 million interest payment on its debt, while at the same time exploring a potential $1 billion financing package to keep operating.
Analysts describe the retailer as burdened with “excessive debt” and insufficient revenue to cover repayments and day-to-day operations without significant restructuring. Leadership turmoil is adding to the uncertainty: longtime Saks Fifth Avenue chief Marc Metrick has stepped down as CEO, with executive chairman Richard Baker—who led the $2.7 billion acquisition of Neiman Marcus Group (including Neiman Marcus and Bergdorf Goodman) in 2024—now taking over the top job. Vendors fear the bankruptcy “waterfall” For vendors already in court, a formal Chapter 11 would likely trigger an automatic stay on their lawsuits and push their claims into the bankruptcy process as general unsecured debts.
In that scenario, unpaid pre-filing…
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