US EditionSaks in Talks for $1 Billion Loan to Keep Doors Open, Bloomberg New Reports
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11 Articles
Saks in talks for $1 billion loan to keep doors open: report
Saks Global Enterprises is in talks to secure a loan of about $1 billion as it prepares for a possible Chapter 11 bankruptcy filing in the coming weeks, Bloomberg News reported on Sunday, citing people familiar with the matter.
Saks in Talks for $1 Billion Bankruptcy Loan to Keep Doors Open
Saks Global Enterprises is looking to line up a loan of as much as $1 billion to keep the business running as part of a Chapter 11 bankruptcy filing that could happen in coming weeks, according to people familiar with the situation.
In an effort to maintain its operations, the Saks Global, American luxury variableist, is seeking to construct a loan of up to US$ 1 billion included in a legal recovery application that can be submitted to the United States Justice in the coming weeks, according to a couple of people in the negotiations.
Saks Global seeks $1bn loan as CEO role changes hands
Saks Global is in discussions to arrange financing of as much as $1bn to support day-to-day operations as it prepares for a potential Chapter 11 bankruptcy filing.The post Saks Global seeks $1bn loan as CEO role changes hands appeared first on Retail Insight Network.
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