A popular retailer is reportedly facing potential Chapter 11 bankruptcy amid financial struggles, according to multiple reports.

Saks Global Enterprises, which owns the luxury stores Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, as well as the off-price stores Neiman Marcus Last Call and Saks Off 5th, was reported to be facing more than $100 million debt payment due at the end of the month, sources with knowledge of the situation confirmed to Bloomberg last week. Ragini Bhalla, head of brand and spokesperson for Creditsafe, also painted a gloomy picture of the company's financial situation in an email to TheStreet citing publicly available financial information.

“Saks Inc.’s Days Beyond Terms (DBT) data over the past twelve months reveals a persistent and troubling pattern of late payments that point to sustained cash flow distress. DBT measures how many days late a company pays its bills. Throughout the entire year, Saks’ DBT has hovered well above the industry average of 10-12 days, ranging from a low of 27 in November 2024 to a high of 41 in January 2025 and March 2025,” she wrote.

“This indicates that Saks has consistently taken nearly a month or more to pay its suppliers late,” Bhalla added.

Marc Metrick, the executive who oversaw Saks Global Enterprises' acquisition of Neiman Marcus Group, is also reportedly expected to exit the company, multiple sources with knowledge of the situation confirmed to Puck Media Company. Saks Global Enterprises has, however, publicly denied any bankruptcy concerns.

“We are making strong progress to reduce outstanding payments, invest in our transformation and drive improved performance," the company said in a statement to TheStreet. "It is important to note that a restructuring is not being contemplated. We have sufficient liquidity after raising $600 million in financing this summer from existing bondholders. At the same time, with inventory levels normalizing and the significant synergies from our integration, we expect performance to improve through the holiday season and into 2026."

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