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Saks’ Distressed Debt Tumbles to Lows Ahead of Interest Deadline

The luxury retailer faces a more than $100 million interest payment deadline at the end of the month.
The exterior of Saks Fifth Avenue's store in New York.
A portion of Saks' first-lien debt subordinated to other lenders was quoted at about 12 cents on the dollar on Friday. (Shutterstock)

Saks Global Enterprises’ debt has sunk to new lows in recent days as the luxury retailer faces a more than $100 million interest payment deadline at the end of the month amid sales declines and troubled vendor relationships. 

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