Saks Global’s Bankruptcy Exposes Reckless Debt and Market Missteps Threatening American Retail Stability

When a titan of the luxury retail world like Saks Global files for Chapter 11 bankruptcy, alarm bells should be ringing across America’s business landscape. This New York-based company, which controls iconic brands like Saks Fifth Avenue and Neiman Marcus, is now scrambling to shed a crushing debt burden that it accumulated during an ill-timed $2.65 billion acquisition in 2024. While corporate executives shuffle positions, American workers and consumers are left to bear the consequences of strategic miscalculations far removed from their everyday realities. Who Pays the Price for Reckless Corporate Debt? Under new CEO Geoffroy van Raemdonck, Saks Global...