Saks Global wins bankruptcy court approval for reorganisation plan
Key takeaways
- Saks Global wins bankruptcy court approval for reorganisation plan.
- The US Bankruptcy Court for the Southern District of Texas signed off on the plan of reorganisation after the “overwhelming majority” of participating creditors voted in favour across the company s capital structure.
- Once it emerges from bankruptcy, Saks Global expects to cut its total debt by nearly 75% and retain sufficient liquidity to fund day-to-day operations and future investments.
Saks Global wins bankruptcy court approval for reorganisation plan. The company is targeting $9bn in total gross merchandise value. Credit: JHVEPhoto / Shutterstock.com. · Retail Insight Network · JHVEPhoto / Shutterstock.com. Shubhendu Vimal Mon, June 8, 2026 at 4:18 PM GMT+7 2 min read A US court has approved Saks Global s reorganisation plan, bringing the luxury retailer closer to exiting Chapter 11 bankruptcy within weeks.
The US Bankruptcy Court for the Southern District of Texas signed off on the plan of reorganisation after the “overwhelming majority” of participating creditors voted in favour across the company s capital structure.
Once it emerges from bankruptcy, Saks Global expects to cut its total debt by nearly 75% and retain sufficient liquidity to fund day-to-day operations and future investments.