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Saks Global Receives Final Approval for $1 Billion Loan After Addressing Vendor Complaints

The retailer resolved concerns raise by brands that their products on consignment would not be rendered as collateral in its bankruptcy process.
Saks storefront
Saks storefront (Shutterstock)
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A US bankruptcy judge on Friday gave final approval to Saks Global’s bankruptcy financing, which provides $1 billion in new funding to the company, after Saks reached deals with luxury brand vendors that ​had ⁠raised concerns about goods shipped to the retailer before it ⁠went bankrupt.

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