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Saks Owner Raises $340 Million After Retailer Didn’t Pay Vendors For Months, Sources Say

Seven brands confirmed reports of chronic late payments that sparked some vendors to halt shipments to the US department store. Owner Hudson’s Bay Company said it monetised some real estate to help fund its retail operations.
Saks store exterior with a person walking past the shop front.
More than a handful of brands confirmed reports of chronic late payments that sparked some vendors to halt shipments to the US department store. Owner Hudson’s Bay Company said it raised $340 million to help fund its retail operations. (Getty Images)

NEW YORK –

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Further Reading

What to Do When Retailers Don’t Pay

While small fashion labels have little recourse when it comes to collecting their bills, there are tactics they can use to build leverage — or at least mitigate losses.

About the author
Cathaleen Chen
Cathaleen Chen

Cathaleen Chen is Retail Editor at The Business of Fashion. She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors.

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