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Latest reporting and analysis tagged with Chapter 11.
Saks Global, parent of Saks Fifth Avenue, filed for Chapter 11 bankruptcy on Wednesday, securing $1.75 billion in financing and appointing a new CEO. The company faces vendor disputes and sparse shelves after its debt-fueled Neiman Marcus merger.
A judge approved short-term financing for Saks Global Enterprises' Chapter 11, rejecting Amazon's initial challenge. Saks won access to $400 million after a lengthy court hearing.
Saks Global has filed for Chapter 11 bankruptcy in Texas, securing $1.75 billion in capital. The company plans to maintain operations and appointed Geoffroy van Raemdonck as CEO.
STG Logistics has filed for Chapter 11 bankruptcy in New Jersey, aiming to cut nearly $1 billion in debt. The company secured a restructuring agreement and new financing, with operations continuing as usual.