Inside Saks Global's Four-Month Bankruptcy Sprint

Inside Saks Global's Four-Month Bankruptcy Sprint

From The Business of Fashion Podcast by The Business of Fashion

May 12, 2026 · 1h 4m

About this episode

The episode features an interview with Saks Global CEO Geoffroy Van Raemdonck discussing the company's strategy to emerge from Chapter 11 bankruptcy.

Earlier today, BoF published an exclusive in-depth interview with Saks Global CEO Geoffroy Van Raemdonck, examining the company’s strategy as it expects to emerge from Chapter 11 bankruptcy next month.  For over a century, Saks Fifth Avenue represented a manifestation of American aspiration—a luxury icon whose flagship on New York’s Fifth Avenue served as a vital crossroads for the global fashion industry. But even the most storied institutions are not infallible. On January 13th, the newly formed Saks Global — parent company of Saks, Neiman Marcus, and Bergdorf Goodman — filed for court-supervised restructuring. Saks Global’s crisis was largely self-inflicted. The acquisition of Neiman Marcus, coupled with slow payments to vendors resulted in a deepening inventory crisis. As debt obligations mounted and cash reserves dwindled, Saks fell further behind on vendor payments, prompting suppliers to freeze shipments. Without new merchandise to sell, revenue plummeted, trapping the retailer in a terminal liquidity crunch. It was caught up in a downward spiral that left its industry reputation in tatters. Now, just four months into Chapter 11, the company’s new…

People in this episode

Hosts: Cathaleen Chen, Imran Amed

Guest: Geoffroy Van Raemdonck

Topics covered

  • bankruptcy
  • retail strategy
  • luxury fashion
  • corporate restructuring
  • turnaround efforts

Keywords

  • Saks Global
  • bankruptcy
  • retail
  • luxury
  • turnaround
  • Geoffroy Van Raemdonck
  • Neiman Marcus
  • Bergdorf Goodman
  • inventory crisis

Mentioned in this episode

Organizations: Saks Global, Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman

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