Saks Global Secures Access to Additional $300 Million of $1.75 Billion in Committed Capital

Luxury Retailer Achieves Key Milestones to Access Final Tranche of Pre-Emergence Financing

Mar. 16, 2026 at 8:07pm

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Saks Global Enterprises LLC, a leading multi-brand luxury retail company, has secured access to an additional $300 million of the $1.75 billion in committed capital following approval of its five-year business plan by an ad hoc group of the Company's senior secured bondholders and the achievement of other key milestones. This final tranche completes the pre-emergence financing package, providing Saks Global with sufficient liquidity to continue to support operations and advance its transformation as it focuses on serving luxury customers, strengthening brand partner relationships and driving full-price selling.

Why it matters

The additional $300 million in committed capital will help Saks Global, which owns the Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman brands, to stabilize its business, improve inventory flow, and invest in its transformation as it emerges from bankruptcy. This financing will enable the company to focus on serving luxury customers, strengthening relationships with brand partners, and driving full-price sales.

The details

Saks Global has successfully executed on a number of strategic actions to prime the company for long-term success, including strengthening brand partner relationships, optimizing the Saks Fifth Avenue and Neiman Marcus store portfolios, sharpening the focus on luxury and full-price selling, and streamlining the supply chain network. These efforts have resulted in a nearly 60% increase in merchandise receipts in March month-to-date versus the same period last year.

  • Saks Global secured access to the additional $300 million on March 16, 2026.
  • The company is expected to file its plan of reorganization with the U.S. Bankruptcy Court for the Southern District of Texas within the next several weeks.

The players

Saks Global Enterprises LLC

A leading multi-brand luxury retail company that owns the Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman brands.

Geoffroy van Raemdonck

The CEO of Saks Global.

Darcy Penick

The President and Chief Commercial Officer of Saks Global.

Brandy Richardson

The Chief Financial Officer of Saks Global.

Lana Todorovich

The Chief Global Brand Partnerships Officer of Saks Global.

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What they’re saying

“We have made significant progress over the past two months as we work to position Saks Global for the future, quickly stabilizing our business, improving inventory flow and investing in our transformation.”

— Geoffroy van Raemdonck, CEO of Saks Global

“With continued strong support from our capital partners, we are laying the path to realize the combined full potential of our three banners, achieve double-digit adjusted EBITDA margin and drive profitable and sustainable growth.”

— Geoffroy van Raemdonck, CEO of Saks Global

“This is tremendous progress in a very short period of time. I'm incredibly proud of our entire leadership team and colleagues across the organization whose collective strength and focus have enabled us to continue to serve our customers and brand partners as we take decisive steps to build a stronger Saks Global.”

— Geoffroy van Raemdonck, CEO of Saks Global

What’s next

The company is expected to file its plan of reorganization with the U.S. Bankruptcy Court for the Southern District of Texas within the next several weeks.

The takeaway

Saks Global's ability to secure an additional $300 million in committed capital, strengthen brand partner relationships, optimize its store portfolio, and streamline its supply chain demonstrates the company's commitment to transforming its business and positioning itself for long-term success in the luxury retail market.