The company said the deal marks a key milestone in its transformation journey, reflecting the continued support of capital partners.
Saks Global has secured $500 million in exit financing under a restructuring support agreement as it moves through Chapter 11, aiming to emerge by summer. The company is advancing its reorganization plan, strengthening brand partnerships and inventory flows, with more than 650 brands resuming shipments. Improving inventory has driven customer engagement, while targeting double-digit EBITDA margins.
“Achieving this important milestone underscores the progress we are making in our transformation and reflects our capital partners' confidence in our vision for the future,” he said. Geoffroy van Raemdonck, CEO of Saks Global.
Saks Global is currently engaging with stakeholders on a formal reorganization plan, which is expected to be presented in the coming weeks. The retailer aims to emerge from Chapter 11 by the summer with a strengthened financial structure, targeting double-digit adjusted EBITDA margins and long-term sustainable growth, the company said in a press release.
The company plans to leverage an integrated retail model, combining optimized brick-and-mortar stores in key luxury markets with distinct e-commerce platforms and remote selling capabilities. It also aims to enhance its select product offering through stronger brand partnerships and deeper customer insights.
Operationally, Saks Global reported progress since filing for bankruptcy. More than 650 brand partners have resumed shipping, unlocking $1.5 billion in retail revenue and filling more than 90 percent of inventory expected for the first quarter of fiscal 2026. March inventory revenue increased 18 percent year-over-year (YoY).
Improved inventory flow has translated into greater customer engagement: spend per store visit increased 6 percent and online conversion increased 11 percent. The company also saw gains in full-price sales across its brands, including Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.
“As we move forward in the restructuring process, our focus remains on strengthening brand relationships and offering personalized luxury experiences,” van Raemdonck added, highlighting confidence in completing the restructuring with sufficient liquidity and positioning the business for future growth.
Fiber2Fashion News Desk (SG)
