Saks Global Secures $300 Million Bankruptcy Funding, Bondholders Back Five-Year Plan

Saks Global snags final $300M in bankruptcy financing, nears home stretch

An ad hoc group of senior secured bondholders has approved the luxury retailer’s five-year plan, aiming for double-digit adjusted EBITDA margin and profitable growth.

Bondholders Approve Saks Global's Five-Year Business Plan

Saks Global secures $300 million bankruptcy funding, bondholders back five-year plan

Saks Global said on Monday it has got access to $300 million more of its $1.75 billion bankruptcy funding package, and said ​an ad hoc group of bondholders has approved ‌the luxury retailer’s five-year business plan.

Saks Global secures further $300 million as part of bankruptcy turnaround

The luxury retailer has gained access to the funds, which are part of a $1.75bn commitment to turn the business around following its Chapter 11 bankruptcy claim in January

Saks Global granted further £225m from bankruptcy financing package

Saks Global has secured access to an additional £225.4m of its £1.3m bankruptcy funding package, as its five-year business plan was approved by a group of the business’s senior secured bondholders. The move completes the retailer’s pre-emergence financing packaging, granting Saks “sufficient liquidity” to sustain its operations and ongoing restructuring.  The business plan will be detailed in Saks’ plan of reorganisation, which is due to be file…

Saks Global secures $300m in final pre-emergence funding tranche

Saks Global has officially secured an additional $300m (£225m) of its $1.75bn (£1.31bn) committed capital package, following approval of its five-year business plan.  The final tranche was released after an ad hoc group of senior secured bondholders approved the company’s strategic roadmap and met several key milestones. The retail group, which operates Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, will use the liquidity to support its …