The first major retail bankruptcy of 2026 has arrived. Most Read from Fast Company Today, Saks Global Enterprises, owner of Saks Fifth Avenue and other luxury retail brands, has filed to seek Chapter 11 bankruptcy protection. The news shows that not even companies aimed at high-end consumers are immune to economic downturns. Here’s what you need to know. What’s happened? On Wednesday, January 14, Saks Global announced that it is seeking Chapter 11 protection in the U.S. Bankruptcy Court for the Southe ...