Saks Global has filed for bankruptcy protection after collapsing under the financial strain of its US$2.7bn acquisition of department store chain Neiman Marcus in 2024.

The luxury US retailer commenced voluntary Chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas to facilitate its ongoing transformation.

Department stores Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow will all remain open for trading during this period.

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