Can you believe that Saks Global has declared Bankruptcy?

[AviatorTom]

Saks Global Holdings LLC, the parent company of Saks Fifth Avenue and Neiman Marcus, filed for bankruptcy protection on 14 January 2026. The company, owes at least $3.4 billion.

This high-end company, with origins back to the mid-1800s, was once one of the wealthiest retail companies in the world.

The company is reorganizing, not liquidating, and said it’ll keep Saks Fifth Avenue, Neiman, Marks and Bergdorf Goodman stores open…for now.

What do you think about this?

Have you shopped at Saks?

[docster]

Yes, I believe it. While I've heard of Saks and Neiman, I've never been in one. I'm not an economist, but it feels like we're in a time like the '70's when people were trading in gas-guzzlers for small efficient cars. Shopping for value rather than luxury. That's what concerns me about the auto industry. People are fed up with the outrageous prices of new vehicles but the so-called American companies say they can't make any profit on small cars. The tight-belt '70's led to the opulent '80's, but this time we have the shift to online shopping thrown into the mix. I don't know what happens next, but I'm glad I'm not in charge and that I'm debt free.

[Chazmatazz269]

I can believe it. We’re going to see a lot more of this as the wealthier corporations take their licks from Drumpf’s economic policies. I wonder if he’ll attempt to put a moratorium on these kinds of bankruptcies. It’s not like they can go anywhere else. No other developed nation on Earth has the same leniency for multinational corporations and banks as the US. He’s already benefited from the system himself. So it’s not like he’d be cutting off his own nose.

[douride2]

I don't recall ever seeing a Saks store around these parts.

[douride2]

@AviatorTom Thanks for a MHO.

[NathanDavis]

can I believe that overpriced luxury is no longer sustainable...

yes, I can believe that... that was never a good model business, lol

[jamesgoldman]

Yeah I was reading about their default and it's done to the fact they bought Neiman Marcus and that was struggling on its own but now it's sunk the ship

[Massageman]

Not really surprised. My mom would shop at a smaller Saks store for a new dinner dress every couple of years, usually for my dad's employer/employee Christmas dinner.

[Shiprex]

Bummer for some , not for me I don't use that brand

[exitseven]

retail is dead. young people do not go to stores.

[Bklynbadboy12]

Yes I can nobody is shopping now

[OlderAndWiser]

Never been in any of their stores.

[Xawyx-2]

Never heard of them.

[WonderingManII]

I never heard of it.