Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH operating across stores and ecommerce experiences, honoring all customer programs and policies
Facilitates go-forward payments to brand partners and acceleration of inventory flow
NEW YORK, Jan. 16, 2026 /PRNewswire/ — Saks Global Enterprises LLC (“Saks Global” or the “Company”), a leading luxury retail company, today announced that it has access to an initial tranche of approximately $500 million of $1.75 billion in committed capital, providing sufficient liquidity to support operations and transformation initiatives across the portfolio. Importantly, this funding will facilitate go-forward payments to brand partners and the acceleration of inventory flow. Under newly appointed CEO Geoffroy van Raemdonck, Saks Global will move through the chapter 11 process efficiently with a renewed focus on expertly curated assortments, trusted relationships with brand partners and an unwavering commitment to loyal customers.
“Access to this significant capital is instrumental as we work to strengthen our financial foundation and best position Saks Global for the future. Our stores and ecommerce experiences are open and focused on delivering exceptional products, elevated luxury experiences and highly personalized service to our customers,” said van Raemdonck. “Saks Global continues to play a distinct and enduring role in the luxury retail industry and, through this process, we will have the opportunity to build a more resilient company, primed for lasting financial and operational stability. Our employees, brand partners, customers and vendors remain at the heart of everything we do, and we thank them for their ongoing support.”
This funding follows Saks Global’s successful first day court hearing, marking the first major milestone in its chapter 11 cases. At the hearing’s conclusion, orders were entered facilitating continued operations in the ordinary course, including maintenance of payroll and benefits as usual and fulfillment of go-forward obligations to partners and vendors.
As Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow continue to serve customers in the ordinary course, the retailers will honor all customer programs and policies, including credit cards, gift cards and loyalty programs.
With the addition of new executive strength including van Raemdonck, Darcy Penick, President, Chief Commercial Officer, and Lana Todorovich, Chief Global Brand Partnerships Officer, and its experienced existing management team including Brandy Richardson, Chief Financial Officer, the Company is well positioned for continued long-term leadership in luxury retail in service of brands and customers.
Advisors
Willkie Farr & Gallagher LLP and Haynes and Boone, LLP are serving as legal counsel, PJT Partners LP is serving as investment banker, Berkeley Research Group is serving as financial advisor, and C Street Advisory Group is serving as strategic communications advisor to the Company.
About Saks Global
Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow. Its retail portfolio includes 70 full-line luxury locations, additional off-price locations and five distinct e-commerce experiences. With talented colleagues focused on delivering on our strategic vision, The Art of You, Saks Global is redefining luxury shopping by offering each customer a personalized experience that is unmistakably their own. By leveraging the most comprehensive luxury customer data platform in North America, cutting-edge technology, and strong partnerships with the world’s most esteemed brands, Saks Global is shaping the future of luxury retail.
Saks Global Properties & Investments includes Saks Fifth Avenue and Neiman Marcus flagship properties and represents nearly 13 million square feet of prime U.S. real estate holdings and investments in luxury markets.
For more information, visit SaksGlobal.com and follow Saks Global on LinkedIn.
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SOURCE Saks Global
