Jan. 14 (UPI) -- Saks Global, the luxury retail parent company of Neiman Marcus, Bergdorf Goodman and Saks Fifth Avenue, announced late Tuesday that it has filed for bankruptcy.
The high-end retail conglomerate announced its Chapter 11 bankruptcy protection filing in the Southern District of Texas in a statement.
The announcement comes 17 months after Saks Global was created with HBC, Saks Fifth Avenue's parent company, acquiring the Neiman Marcus Group for $2.65 billion.
In late March, Neiman Marcus' flagship store in downtown Dallas, which first opened in 1907, closed.
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