"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

A $900M Promise to Amazon and 4 Other Takeaways From the Saks Bankruptcy

Bankruptcies pull back the curtain on a company all at once — laying bare the troubled descent into…
#NewsBeep #News #Topstories #Amazon #AuthenticBrandsGroup #Headlines #NeimanMarcus #Saks #SaksFifthAvenue #SaksOff5th #TopStories #WWD
https://www.newsbeep.com/360113/

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