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Saks Global Obtains Court Approval for $400 Million in Rescue Financing

The judge overruled an objection from Amazon, which said its equity investment in Saks would be ‘worthless’ under the bankruptcy’s current financing arrangement.
Signage outside the Saks women's store at Brookfield Place in New York, which closed in 2019 | Source: Allison Joyce/Bloomberg via Getty Images
Saks said it owes over $337 million to critical suppliers, including French luxury brand Chanel. (Getty Images)

A US bankruptcy judge on Wednesday granted initial approval of

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