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Saks’ Bankruptcy and the Future of Luxury Retail | The Debrief

Saks’ Chapter 11 filing listed $3.4 billion in debts, and the retailer is on its third CEO in two weeks. But the industry is cautiously optimistic about what’s coming next. BoF’s retail editor Cat Chen explains how we got here, who gets paid and what a credible turnaround must look like.
Saks Fifth Avenue in Midtown Manhattan.
Saks Fifth Avenue in Midtown Manhattan. (Shutterstock)

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