Filing Alert: Saks Global Chapter 11
Saks Global Files Chapter 11 in Southern District of Texas
Update (Jan. 20, 2026): A comprehensive case summary is now available for the Chapter 11 bankruptcy filing of Saks Global Enterprises LLC.
Saks Global Enterprises LLC and its debtor affiliates⁽¹⁾, a New York, NY-based parent of luxury retailers Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, filed for Chapter 11 protection on Jan. 14 in the U.S. Bankruptcy Court for the Southern District of Texas.
The filing was precipitated by a liquidity crisis following the 2024 acquisition of Neiman Marcus Group, which resulted in an unsustainable capital structure and strained vendor relationships that severely limited inventory flow. Despite a mid-2025 exchange transaction and $600 million financing infusion, the company faced a "perfect storm" of liquidity challenges, including covenant step-ups under its ABL Facility and missed interest payments in late 2025.
The debtors have secured approximately $1.75 billion in new-money financing across three facilities, including a $1.5 billion ABL DIP and a $2.6 billion term loan DIP backstopped by an ad hoc group of noteholders, to fund operations and a comprehensive restructuring.
Saks Global Enterprises LLC reports $1 billion to $10 billion in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 26-90103.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Local Bankruptcy Counsel:
- Kelli Stephenson Norfleet
Haynes and Boone, LLP
Email: [email protected]
General Bankruptcy Counsel:
- Willkie Farr & Gallagher LLP
Financial Advisor / CRO:
- Berkeley Research Group, LLC (Mark Weinsten)
Investment Banker:
- PJT Partners, Inc.
Claims Agent:
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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