Saks Fifth Avenue

Saks Global, parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, emerged from Chapter 11 bankruptcy with a new name, Exemplar Luxury Group, a 75% debt reduction, and $500 million in financing. The company reduced its store count, shuttering most Saks Off Fifth discount stores, and announced a strategy focused on luxury shopping experiences.

Saks Global, parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, emerged from Chapter 11 bankruptcy with a 75% debt reduction, $500 million in new financing, and a rebrand as Exemplar Luxury Group. The company closed most of its Saks Off 5th discount stores and now operates 49 total stores, partnering with Pentwater Capital Management and Bracebridge Capital during its restructuring.

Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, officially emerged from Chapter 11 bankruptcy with reduced debt, fewer stores, a more focused strategy to serve the affluent, and a new name.

Saks Global, parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, emerged from Chapter 11 bankruptcy with a 75% debt reduction, $500 million in financing, and a new name, Exemplar Luxury Group. The company closed most of its Saks Off 5th discount stores and now operates 49 total stores, partnering with Pentwater Capital Management and Bracebridge Capital during its restructuring.

Saks Fifth Avenue is selling its Gulfstream jet as part of a bankruptcy restructuring effort. The company is acquiring Neiman Marcus Group for $2.65 billion to merge two top U.S. luxury department stores.