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How Saks's acquisition of Neiman Marcus plunged the company into bankruptcy: 'Recipe for disaster'
Saks used $2.2 billion in junk bonds to buy Neiman Marcus, but didn't have enough money left over to pay vendors, which led the company to declare bankruptcy.
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theguardian.com
Saks Global files for bankruptcy after takeover leads to financial collapse
Debt-riddled retail giant’s demise has cast uncertainty over the future of US luxury fashion
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cnbc.com
Saks Global, the longtime leader of luxury department stores, files for bankruptcy protection
Saks Global, which also owns Neiman Marcus and Bergdorf Goodman, filed for bankruptcy protection after running out of cash.
