Legendary Luxury Retailer Saks Needs a New Start. It's Looking for 'Long-Term Potential'

Key Takeaways Saks Global Enterprises, which includes Neiman Marcus, Bergman Goodman, and its namesake brand, sought bankruptcy protection Wednesday. The retailer aims to keep stores open during the restructuring, and has appointed former Neiman Marcus CEO Geoffroy van Raemdonck to oversee the company during the transition. One of America's most storied luxury names is looking for a fresh start. Saks Global Enterprises—which includes Saks Fifth Avenue, the home goods specialist Horchow, and the di ...