NEW YORK (AP) — The parent company of Saks Fifth Avenue and Neiman Marcus is closing most of its Saks Off 5th locations to focus on its iconic department stores and raise money to pay off its debts during its Chapter 11 bankuptcy reorganization. Saks Global operates 70 Saks Off 5th locations and plans to shutter all but 12 stores, the company said Thursday. The remaining outlets will serve primarily as a selling channel for residual inventory from Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, it ...

Core Insights - Wag! Group Co. has successfully emerged from Chapter 11 bankruptcy and is now a privately held company owned by Retriever LLC, which provided financial support during the reorganization process [1][2][3] - The company aims to strengthen its financial foundation and invest in business growth while continuing to serve its customers and execute long-term strategic priorities [2][3] Company Overview - Wag! Group Co. is focused on becoming the leading platform for service, product, and wellness needs of modern U.S. pet households, having pioneered on-demand dog walking in 2015 [5] - The company operates several platforms, including Petted, Dog Food Advisor, WoofWoofTV, and maxbone, catering to various aspects of pet care and wellness [5] Financial Restructuring - The confirmed Plan of Reorganization allowed Retriever to assume ownership and provide new equity capital and exit financing, ensuring operational continuity during the bankruptcy process [2][3] - The restructuring process was completed in approximately 40 days, allowing the company to maintain business operations and customer service throughout [2][3] Future Outlook - With a stronger balance sheet, Wag! is positioned for sustainable long-term growth as a privately held business, focusing on innovation and exceptional customer experience in the pet care market [3]