Skip to main content

Agenda-setting intelligence, analysis and advice for the global fashion community.

Saks Bond Suffers $1 Billion Loss Before a Single Payment Is Made

Saks Global is now seeking even more money to shore up finances while bondholders, who face almost $1 billion in losses, have begun to question if they’ll receive a single interest payment.

Saks flagship store on Fifth Avenue. — Saks’ bonds have been under pressure from almost the day they were sold. (Shutterstock)

By

Bloomberg

14 May 2025

BoF PROFESSIONAL

It was supposed to be just what Saks needed to turn things around. By taking over struggling rival Neiman Marcus, the pitch went, the iconic retailer would become a luxury powerhouse — one with enough bargaining and pricing power to cut costs and boost profitability.

Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.

In This Article

Topics

Retail:Stores

© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail

Analysis and advice from the front lines of the retail transformation.

Can Lake Translate Success in Sleepwear Outside the Bedroom?

Can Lake Translate Success in Sleepwear Outside the Bedroom?

The Savannah, Ga.-based pajama brand has developed a devoted following for its super-soft pyjamas. With their first daywear collection, they’re hoping that loyalty will apply in a much more competitive category

Is Quince Really Worth $10 Billion?

Is Quince Really Worth $10 Billion?

From $50 cashmere to Dom Pérignon champagne, the everything store for the aspirationally bougie is outrunning the ghosts of DTC past.

Why Strong Retail Sales Aren’t Leading to More Retail Jobs

Why Strong Retail Sales Aren’t Leading to More Retail Jobs

A disappointing US employment report surprised economists and investors, but was old news for the apparel sector, where the labour market has stagnated for years.

BoF Masterclass | The State of Fashion 2026

BoF Masterclass | The State of Fashion 2026

Join us on Tuesday, March 17 at 15:00 GMT / 10:00 EST for the next BoF Professional Masterclass on The State of Fashion 2026.

Latest News & Analysis

Unrivalled, world class journalism across fashion, luxury and beauty industries.

Behind Fashion Week Glamour, Argentina’s Textile Backbone Buckles

The country’s textile ‌sector has cut 16 percent of its workforce since 2023.

Exclusive: Nvidia and Antoine Arnault Are Betting on Virtual Try-On

At the Nvidia GTC conference on Monday, the AI company announced it was partnering with Catches to launch RealFit, a new platform that uses physics to improve digital try-on technology.

Kering Unveils New Jewellery Unit, Merges Fashion Brand Reporting

Kering’s newly created jewellery division regroups Boucheron, Pomellato, Dodo and Qeelin brands as the company aims to pool resources. The conglomerate is also regrouping fashion brand reporting, shielding smaller labels from investor scrutiny.

Bondholders Approve Saks Global’s Five-Year Business Plan

Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

CONNECT WITH US ON

© 2026 The Business of Fashion. All rights reserved. For more information read our , , and .