Behind the Money The rapid collapse of Saks Global
35 snips
Jan 21, 2026 
Sujeet Indap, Wall Street editor at the Financial Times, and Eric Platt, U.S. investment editor, dive into Saks Global's stunning Chapter 11 bankruptcy. They unravel how Saks' recent Neiman Marcus acquisition fueled its downfall amid declining luxury demand and crushing debt. The duo also explores the implications of lax due diligence by asset managers, the looming wave of bankruptcies in 2026, and the pressures faced by highly leveraged companies in today's market. It's a captivating conversation on the fate of a legendary retail icon.
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Shoppers Reacted Immediately
- A shopper rushed to use her Saks card after hearing about the bankruptcy filing late at night.
- The flagship Fifth Avenue store still feels cinematic and aspirational to many first-time visitors.
Legacy Brand Vulnerable To Demand Shifts
- Saks built its reputation by bringing European luxury houses to the U.S. and shaping aspirational shopping.
- Recent declines in luxury demand and inventory shortfalls eroded that advantage.
Missing Staples Show Operational Strain
- Michela Tindera and Sujeet described missing items like Aesop soap as a sign of inventory problems.
- Popular products repeatedly sold out or vanished from Saks.com over the prior year and a half.
