By Juveria Tabassum, Reuters
Photo: Getty Images via AFP / Scott Olson
Saks Global's prime real estate portfolio could serve as a crucial bargaining chip with lenders as the hard-hit luxury shopping empire navigates its restructuring after filing for bankruptcy.
The upmarket US department store conglomerate filed for Chapter 11 bankruptcy protection late on Tuesday (US time), barely a year after a debt-laden takeover intended to create a luxury powerhouse by bringing Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof.
While Saks Global secured a US$1.75 billion (NZ$3.04b) financing package to help keep operations running through the bankruptcy process, questions remain on whe
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