Podcast
Welcome to The Backroom, a window into what goes on behind the scenes as the Retail Dive team covers the stories and trends reshaping retail. You can check out all our podcast episodes (past and present) here and listen on Apple Podcasts, iHeartRadio and Spotify.
Murmurs about the possibility of a Saks Global bankruptcy surfaced almost immediately after the $2.7 billion acquisition of Neiman Marcus Group in December 2024. All last year, that grew louder as Saks Global’s financial difficulties grew more obvious, starting with the fact that the company was struggling to pay vendors.
That soon turned into difficulty obtaining inventory, which tanked sales and set the company up for a rough holiday season. By the end of the year, most observers saw a Chapter 11 filing as imminent, and, indeed, it came on Jan. 14.
Retail Dive reporters Dani James and Daphne Howland each visited Saks Fifth Avenue’s Manhattan flagship in recent months. On this episode of the podcast, they discuss their impressions of the location, how Saks Global’s rivals are doing and what may come next. Then Daphne speaks with Debtwire analysts Sarah Foss and Tim Hynes about Saks Global’s financial straits, how the bankruptcy might go and what it all means for retail more generally.
Resource links:
- Saks Global files for bankruptcy, shakes up leadership after a year of struggles
- Saks Global is stuck
- Saks Global CEO Marc Metrick exits
- What Saks Global’s bankruptcy means for vendors
- Reporter’s notebook: New York City’s last department stores
Editor’s note: This episode was produced and edited by Caroline Jansen.
