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Saks Global to Close Select Saks Fifth Avenue and Neiman Marcus Stores
Summary by Shopping Center Business
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The Saks Global chain of luxury department stores faces new legal fronts due to million-dollar debt in the payment of rents, in the midst of its restructuring process under Chapter 11 of the U.S. Bankruptcy Act. Owners of malls where group stores operate claim up to 19 million dollars (mdd) in uncovered rents, corresponding to the two weeks after their bankruptcy declaration.
Saks Global to Close Select Saks Fifth Avenue and Neiman Marcus Stores
New York City — Since declaring Chapter 11 bankruptcy last month, Saks Global Enterprises will close eight Saks Fifth Avenue stores, as well as one Neiman Marcus store. No changes are… The post Saks Global to Close Select Saks Fifth Avenue and Neiman Marcus Stores appeared first on Shopping Center Business.
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