Saks Global, century-old high-end department store chain, files for bankruptcy [CBS News]
Apollo Global Management, Inc. (New) (APO)
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Source: CBS News
Bankruptcy Court in Houston, throwing the future of the roughly century-old high-end department store chain into doubt. Saks Global is the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman. Saks also said it had secured a $1.75 billion financing package and that it would keep its stores open as the bankruptcy procedure plays out. Saks recently missed a debt payment stemming from a 2024 deal by its parent company, Hudson's Bay Company, to buy rival luxury retailer Neiman Marcus for $2.65 billion, the Wall Street Journal reported in late December, citing people familiar with the matter. Swamped by debt Hudson's Bay raised $2 billion in debt to complete the Nieman Marcus deal, while Apollo Global Management affiliates provided an additional $1.5 billion in financing. Amazon also took a minority stake in Saks to facilitate the deal. "The debt-fueled acquisition of Neiman Marcus always made bankruptcy a likely destination for Saks Global," said Neil Saunders
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APO
Earnings
- 11/4/25 - Beat
APO
Sec Filings
- 12/15/25 - Form 4
- 12/15/25 - Form 4
- 12/12/25 - Form 4
- APO's page on the SEC website