Bankruptcy court, citing Saks Global’s merchandising woes, approves $500M in exit financing
Judge Alfredo Pérez on Friday approved the plan, paving the way for the luxury retailer to start fresh with vendors — and customers.
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The luxury department store retailer has boosted inventory receipts, with more than 650 brands shipping merchandise, up from 500 a month ago.
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The company said it has resolved most objections to its bankruptcy financing, but some suppliers remain wary.
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The parties have settled a dispute that threatened to derail progress in Saks’ effort to exit bankruptcy court next month.