Latest news with #SaksGlobalEnterprises
Bloomberg
3 days ago
- Business
- Bloomberg
Saks Reveals $100 Million Loss in No-Questions Creditor Call
By , Reshmi Basu, and Irene Garcia Perez Save Saks Global Enterprises told creditors it had an adjusted loss of more than $100 million last fiscal year, one day after it announced a $350 million financial lifeline ahead of a looming coupon payment. The luxury retailer has $275 million in overdue payments to suppliers, management told bondholders in a Friday call where it also shared figures from the 12-month period ended Feb. 1, according to people with knowledge of the call's contents. Combined with results from recently acquired Neiman Marcus, the company recorded $161 million in adjusted earnings last year, Saks reported.
Bloomberg
16-05-2025
- Business
- Bloomberg
Saks Creditors Form Majority Group Ahead of Potential Debt Talks
By , Eliza Ronalds-Hannon, and Jill R Shah Save Saks Global Enterprises creditors that hold more than half of its $2.2 billion bond due 2029 have organized and are preparing for potential talks with the company regarding its financing options, according to people with knowledge of the matter. The group has hired Lazard Inc. and Paul Weiss Rifkind Wharton & Garrison as advisers, said the people, who asked not to be named because they're not authorized to speak publicly.
Bloomberg
12-05-2025
- Business
- Bloomberg
Saks Hires Kirkland & Ellis, PJT to Explore Financing Options
Saks Global Enterprises tapped PJT Partners, Kirkland & Ellis and Bank of America Corp. to help it explore ways to raise new financing alongside the asset-based loan it is pursuing, according to a person with knowledge of the matter. The advisers will serve to help Saks assess its options for boosting liquidity as economic pressures, including President Donald Trump's trade policies, weigh on the US retail sector, said the person, who asked not to be identified discussing private business decisions.
