Saks Global, Century-Old High-End Department Store Chain, Files For Bankruptcy

CBS Los Angeles

Updated on: January 14, 2026

Saks Global filed for bankruptcy protection late Tuesday, according to court documents filed in U.S. Bankruptcy Court in Houston, throwing the future of the roughly century-old high-end department store chain into doubt. Saks Global is the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.

Saks also said it had secured a $1.75 billion financing package that will enable it to keep its stores open.

Saks recently missed a debt payment stemming from a 2024 deal by its parent company, Hudson's Bay Company, to buy rival luxury retailer Neiman Marcus for $2.65 billion, The Wall Street Journal reported in late December, citing people familiar with the matter.

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