Saks Global Enterprises is in talks to secure as much as $1 billion in bankruptcy financing to keep its stores open while it prepares a potential Chapter 11 filing in the coming weeks. The move follows a missed interest payment of more than $100 million due on December 30, 2025, signaling how tight liquidity has become at the parent of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman.
What Is Happening At Saks Global
According to people familiar with the talks, Saks Global is working on a debtor-in-possession, or DIP, loan of up to $1 billion that would fund operations through bankruptcy and help reassure vendors and landlords that bills will be paid. Some creditors are considering a structure with at least $750 million, plus a “roll-up” of existing debt, so the New York-based retailer can keep doors open throughout the court process.
The financing discussions are happening alongside negotiations…
with bondholders over a forbearance agreement that could temporarily pause enforcement on the missed $100 million interest payment while a broader restructuring plan is crafted.
Without a deal, Saks Global risks running out of cash for inventory, payroll, and store operations across the United States. How Saks Got Here Saks Global was created in July 2024 when Hudson’s Bay Company combined Saks Fifth Avenue with Neiman Marcus and other luxury assets in a $2.65 billion takeover aimed at building a scale player in high-end retail.
The new group also controls a large real estate portfolio estimated at nearly $4 billion in gross asset value across about 13 million square feet of space in the United States. But softer luxury demand, heavy leverage, and vendors tightening terms have left Saks Global struggling to service debt even after a $600 million new-money injection and a restructuring of about $2.2 billion of obligations in August 2025.
Traffic has been sluggish at department stores, and brands have been pushing more sales through their own boutiques and e-commerce sites instead of wholesale partners. Tension Among Bondholders Over The Loan Not all creditors agree on how much…
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