January 15, 2026|Client Alerts
Saks Global Seeks Chapter 11 Protection a Year After Neiman Marcus Deal
By Brian T. Harvey, Jeffrey H. Kapor, Dakota Pearce
On Tuesday, January 13, 2026, Saks Global Enterprises LLC and Luxury Outlets USA, LLC, along with approximately 113 corporate affiliates, filed chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the Southern District of Texas – only 13 months after acquiring the Neiman Marcus Group for approximately $2.7 billion. Through the bankruptcy filing, the debtors are seeking court approval of a $1 billion DIP financing facility to provide operating liquidity during the restructuring. A bankruptcy sale of the debtors’ assets is not currently contemplated.
With more than twenty of our attorneys well-versed in the issues posed by retail bankruptcies, Buchalter is well positioned to assist clients with any issues that might arise in the Saks bankruptcy. Our attorneys can protect the interests of any of our clients on their outstanding claims – including priority claims for product delivered in the 20 days leading up to the bankruptcy case. Buchalter attorneys can also address questions about post-bankruptcy shipments, and to the extent applicable, assist with negotiations for treatment as a “critical vendor” and/or can advise clients on the assumption and possible assignment of their executory contracts through the bankruptcy proceeding.
This communication is not intended to create or constitute, nor does it create or constitute, an attorney-client or any other legal relationship. No statement in this communication constitutes legal advice nor should any communication herein be construed, relied upon, or interpreted as legal advice. This communication is for general information purposes only regarding recent legal developments of interest, and is not a substitute for legal counsel on any subject matter. No reader should act or refrain from acting on the basis of any information included herein without seeking appropriate legal advice on the particular facts and circumstances affecting that reader. For more information, visit www.buchalter.com.
