#saks-global

#saks-global

That equity investment is now presumptively worthless after Saks continuously failed to meet its budgets, burned through hundreds of millions of dollars in less than a year, and ran up additional hundreds of millions of dollars in unpaid invoices owed to its retail partners," Amazon's attorneys wrote in a court filing on Wednesday, just hours after Saks Global filed for Chapter 11 with a $1.75 billion financing package.

It's not about the number of brands-it's about the right brands, which highlights Saks Global's focus on quality over quantity in their vendor strategy.

This week's staff cuts at Saks Global focus on reducing duplicative and overlapping roles resulting from the $2.7 billion acquisition of the Neiman Marcus Group.