Saks Global LLC secured an additional $300 million in bankruptcy funding. The luxury retailer also has a five-year business plan. Over 1,200 Saks employees will face layoffs by May. The company plans to close more than a dozen stores. Saks Global filed for Chapter 11 bankruptcy in January due to debt.
New York, New York
https://www.wfaa.com/article/money/business/layoffs-store-closures-mount-as-saks-global-sees-end-to-bankruptcy-ahead/287-7c396f94-3e3a-49c7-bdf8-56f02b88c5af