Saks’ Parent Exits Bankruptcy With New Name, Fewer Stores
Saks Global is shedding bad debt and emerging from bankruptcy with a high-end focus and a new name, Exemplar Luxury Group.
Five months after declaring Chapter 11 bankruptcy, the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman has emerged with a smaller footprint, less debt, a new ownership structure and a promise from CEO Geoffroy van Raemdonck to be “guided by our relentless devotion to our customers.”