Leveraged luxury: fall of Saks Global to scorch US business stars
Gilded department store chain is grappling with heavy debt and angry suppliers
Gilded department store chain is grappling with heavy debt and angry suppliers

Retailer has struggled with high debt after acquiring rival Neiman Marcus and Bergdorf Goodman

Chain sought to be the ultimate retailer in the sector but its collapse suggests plenty of shoppers never wanted it at all

Luxury retailer has pitted lenders against one another to secure financial lifelines as it teeters on edge of default

Shoppers in the industry’s biggest two markets opt for domestic alternatives to long-dominant old guard

Rapid growth of $2tn market has led to hastily done deals and hurried due diligence, say fund managers

Second-tier brands and retailers are starting to stretch their tendrils upwards