Iconic Luxury Retailer Saks Files for Bankruptcy amid Struggle with Merger Debt

A 100-year-old retailer is headed to the bargain bin. Saks Global — the parent company behind Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman — has become the latest department store owner to file for Chapter 11 bankruptcy protection. The company said Wednesday that it secured $1.75 billion in financing to keep its store doors open and named a new CEO. But whether some fast cash will lead to a long-term recovery for Saks is still being sorted and folded. SUBSCRIBE:  Receive more of our free The Dai ...