All Content from Business Insider | Bankrupt luxury retailer Saks plans to ditch its corporate jet by Natalie Musumeci,Madeline Berg

Saks Global's bankruptcy filing shows how much the retail giant owes to some of the biggest luxury brands.Scott Olson/Getty Images

Saks Global filed for bankruptcy protection earlier this year.Now the luxury retailer is looking to sell off its corporate jet for $6 million.The sale, which requires court approval, would boost Saks' liquidity, the retailer said in a filing.Bankrupt luxury retailer Saks Global is looking to shed a high-end executive perk — its sole corporate jet.

In a recent court filing, Saks Global, the owner of department stores Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, detailed its plan to sell its 2003 Gulfstream G400 jet for $6 million to a private buyer.

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Read more: https://www.businessinsider.com/saks-global-selling-corporate-jet-gulfstream-bankruptcy-2026-4

#bankruptcy #retail #saks-fifth-avenue #neiman-marcus

"In 2005, he formed a private-equity firm to snap up retailers with valuable real estate. A memo he wrote that year listed his targets: Lord & Taylor, Canadian chain Hudson’s Bay, #Saks, Germany’s Galeria Kaufhof, and Neiman Marcus. He would go on to buy them all. Each eventually filed for bankruptcy—though not all on his watch. Even though the companies failed, Baker often made money on the real estate."

https://www.msn.com/en-us/money/companies/inside-the-mad-dash-to-save-saks-america-s-last-luxury-retailer/ar-AA1UeVEb

Let me fact check some things about #Saks

1. They filed for bankruptcy
2. They are closing some brick and mortars
3. They are not shutting down entirely
4. There is an “up to” 70% off designer sale going on right now

Hope this helps :)

Saks Global struggles to line up financing as potential bankruptcy filing looms

"Failure to line up #financing would prevent #Saks from filing for Chapter 11 #bankruptcy, which would give the company a chance to reorganize and potentially find a buyer willing to take on its business as a going concern. It could then be faced with Chapter 7 bankruptcy, which is reserved for #liquidation. "

https://www.cnbc.com/2026/01/08/saks-global-struggles-to-line-up-bankruptcy-financing.html