Home / Business and Economy / Saks Global Files for Bankruptcy Amid Retail Crisis
Saks Global Files for Bankruptcy Amid Retail Crisis
14 Jan
Summary
- Saks Global filed for bankruptcy late on Tuesday, January 14, 2026.
- The company owns luxury chains Saks, Neiman Marcus, and Bergdorf Goodman.
- This adds to a decade of high-profile retail collapses in the US.
Saks Global, a prominent conglomerate of department stores, officially filed for bankruptcy on Tuesday, January 14, 2026. This filing signifies a critical moment for the luxury retail sector, as the company grapples with intense market pressures. The conglomerate includes well-known luxury chains such as Saks, Neiman Marcus, and Bergdorf Goodman.
The decision to file for bankruptcy protection comes after years of increasing challenges for traditional brick-and-mortar retailers. Saks Global's struggle reflects a broader trend within the United States, where numerous high-profile retail businesses have collapsed over the last decade. This trend is largely attributed to the escalating competition from both large-scale physical retailers and dominant online platforms.
This bankruptcy adds Saks Global to a growing list of major American retailers that have faced financial insolvency in recent years. The situation underscores the profound shifts occurring in consumer shopping habits and the urgent need for adaptation within the retail industry.
