Amazon(US:AMZN) 智通财经网·2026-01-15 08:22Core Viewpoint - Amazon has raised concerns regarding Saks Global's bankruptcy protection application, claiming the luxury retailer violated agreements related to selling Saks products on its platform and considers its equity investment in Saks to be "presumed worthless" [1][2]. Group 1: Amazon's Investment and Concerns - In 2024, Amazon acquired a minority stake in Saks as part of a deal facilitating Saks' $2.65 billion acquisition of Neiman Marcus, investing $475 million in preferred stock [2]. - Amazon's investment was contingent upon Saks selling products on its platform, with Saks agreeing to pay at least $900 million in fees over eight years [2]. - Amazon alleges that Saks has consistently failed to meet budget expectations, burning through hundreds of millions of dollars in less than a year and owing its retail partners significant amounts [2]. Group 2: Saks Global's Financial Situation - Saks has faced negative reports regarding cash flow issues and supplier payment defaults since the second half of 2025, including a failure to pay $100 million in interest by December 2025, resulting in actual default [1]. - A U.S. judge allowed Saks to access "debtor-in-possession" financing, with the company urgently needing additional funds to continue paying suppliers and covering operational costs [2]. - Saks is seeking court approval to withdraw an initial $400 million from the financing arrangement, with the remaining funds to be accessed later in the Chapter 11 bankruptcy process [2]. Group 3: Dispute Over Financing - Prior to Saks' bankruptcy protection application, Amazon indicated it would oppose the company's financing arrangements, claiming Saks needed its consent for key loan components, which Amazon refused [3]. - Saks proceeded with financing arrangements from existing lenders, asserting that this would strengthen its business, while stating that all its brand stores would continue to operate as usual [3].