The owner of Saks Fifth Avenue is seeking bankruptcy protection, buffeted by rising competition and the massive debt it took on to buy its rival in the luxury sector, Neiman Marcus, just over a year ago. Saks Global, which also operates Bergdorf Goodman, has secured roughly $1.75 billion in financing, the New York company said as it filed for Chapter 11 bankruptcy Wednesday in the Southern District of Texas. The privately held Saks Global said its stores will remain open as it restructures company debt, ...

Core Viewpoint - American Signature, the parent company of American Signature Furniture and Value City, has filed for Chapter 11 bankruptcy protection due to unfavorable economic conditions and a slower housing market impacting sales [1][2]. Company Overview - American Signature has been a family-owned furniture destination for nearly 75 years, known for providing style, quality, and value to communities [2]. - The company is owned by Jay L. Schottenstein's SB360 Capital Partners, which also owns several other retail brands including American Eagle and Aerie [3]. Bankruptcy Filing Details - The company plans to pursue a sale at auction within 45 days to maximize value for stakeholders and anticipates entering into a stalking horse asset purchase agreement with ASI Purchaser LLC [4]. - American Signature has secured approximately $50 million in debtor-in-possession financing from Second Avenue Capital Partners LLC to support operations during the Chapter 11 process [5]. - The company has filed motions to continue employee wages and benefits, maintain customer programs, and satisfy post-petition obligations to vendors and partners, pending court approval [5].

Industry Impact - Brazil's agriculture industry faces potential lending restrictions [1] Company Policy - Banco do Brasil, the largest lender to Brazil's agriculture, is considering halting loans to farmers seeking bankruptcy protection [1]

Ambipar has opted to file for bankruptcy protection in Brazil, the firm said in a statement. The announcement caps off a steep rout for the struggling waste management company, driven by governance concerns, ratings downgrades and executive exits. https://t.co/rjCQRFBAjC ...