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The Latest Breaking News from Neiman Marcus

Saks Global culls large chunk of its corporate workforce

About 640 jobs will be cut. When Saks filed for bankruptcy in January, it employed about 17,000 people

The Independent UK

Apple is closing stores in three states as it begins to pull back on mall locations

Workers at each location are reportely being treated differently in the process

The Independent UK

The 13 best women’s shoes for the office, vetted by stylish professionals

From comfy loafers to sleek pumps, these picks keep you comfortable through long workdays and commutes

The Guardian - US

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Nordstrom's 'glow-up': How going private is helping the retailer thrive as Saks Global languishes

Freed from Wall Street’s glare, Nordstrom is is betting on fun, food, and beauty to win back shoppers.

Fortune

Saks Global to shutter 15 more department stores in bankruptcy restructuring

The parent company of Saks Fifth Avenue and Neiman Marcus is closing more of its department stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring

The Independent UK

Woman receives $1K Miu Miu shoes from Neiman Marcus. Why does it look like a ‘kid went crazy’ on it?: ‘Nordstrom WOULD NEVERR’

A TikToker has vowed to never shop Neiman Marcus again after a $1,000 Miu Miu shoes return went haywire. Debbie, who is known as @callmedebsss on TikTok, told viewers that her experience with one employee in particular is what led to this decision.

The Mary Sue

Dozens of Saks Off 5th stores to close after bankruptcy filing, liquidation sales begin

Saks Global filed for Chapter 11 bankruptcy earlier this month

The Independent UK

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Mall staple Francesca’s closing stores nationwide

Retail chain has been open since 1999

The Independent UK

‘The consumers are still out there’: why a bankruptcy for Saks Global may not spell the end

Just more than a year after the new luxury behemoth was formed, it announced it had filed for chapter 11 bankruptcy

The Guardian - US

Can Saks' new CEO repair the damage done to the luxury retailer by years of being treated as a 'financial plaything'?

Geoffroy van Raemdonck's first order of business will be to win back fashion brands.

Fortune

Saks files for bankruptcy, leaving the future of its stores up in the air

‘This is a defining moment for Saks Global,’ the firm’s new CEO said

The Independent UK

Saks Global files for bankruptcy after takeover leads to financial collapse

Debt-riddled retail giant’s demise has cast uncertainty over the future of US luxury fashion

The Guardian - US

Luxury retailer Saks Global files for bankruptcy as it prepares to restructure

Luxury retailer Saks Global has filed for bankruptcy, preparing to reposition itself after obtaining about $1.75 billion in financing commitments

The Independent UK

Saks Fifth Avenue Owner on Brink of Bankruptcy as Consumers Pull Back on Non-Essential Spending

Saks Global, owner of Saks Fifth Avenue, is set to file for Chapter 11 bankruptcy as consumers cut discretionary spending and heavy debt from a costly merger burdens the retailer's finances.

International Business Times UK

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Fortune

Saks Global's near bankruptcy is the result of risky dealmaking—and a neglect of business basics

Also: All the news and watercooler chat from Fortune.

Fortune

How a real estate scion's risky dealmaking pushed Saks Global to the brink

With vendors angry and luxury shoppers deserting in droves, the department store chain’s new CEO, Richard Baker, faces a tough slog.

International Business Times UK

Saks CEO Steps Down: What Went Wrong in the Final Months

Saks Global replaces its CEO amid debt pressure, missed payments, and a slowdown in luxury sales, exposing the risks of rapid expansion and bold mergers.

International Business Times UK

Luxury Giant in Freefall: Saks 'Desperate' to Lock Down $1B Financing After Skipping Huge Debt Payment

Saks Global races to secure $1B in emergency financing as bankruptcy looms after missing a $100M bond payment linked to its troubled Neiman Marcus deal.

Get all your
news in one place.

100's of premium titles.
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The Independent UK

Saks may be heading for bankruptcy despite raising billions: report

Saks’ $2.65 billion acquisition of competitor Neiman Marcus put the company in more debt

Fortune

6 'unhinged' things Sara Blakely did that ultimately shaped the success of her $1.2 billion Spanx empire

Blakely became the first self-made female billionaire in 2012.

Kiplinger

13 Outrageous Ways to Spend Money in Retirement

Whether you have excess cash to spend or want to pretend, here’s a look at 13 ridiculous ways retirees can splurge.

The Mary Sue

‘Nordstroms would never do me like that’: North Texas woman orders JW Anderson handbag from Neiman Marcus. Then she opens the package

A North Texas woman says a luxury shopping splurge through Neiman Marcus didn’t go as planned. Instead of delivering the expensive JW Anderson handbag she paid for, she says the company sent her something much smaller and far cheaper.

GOBankingRates

4 Extravagant Holiday Gifts Billionaires Have Bought

Here are extravagant holiday gifts billionaires have bought over the years.

Dinks Finance

12 Bargain Stores Rich People Shop At But Won’t Admit

You might think the rich only shop at high-end boutiques and designer stores, swanning around with their noses in the air. But that’s not always the case. Even millionaires love a good bargain. It’s a little-known secret among the wealthy that some of the best deals can be found in…

Fortune

Department stores' new playbook: How Macy's, Dillard's, and Nordstrom are getting their groove back

Department stores have a new playbook to win back shoppers from discount stores and Amazon.

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