Saks Fifth Avenue parent reportedly exploring bankruptcy as last-resort option

Saks Global Enterprises, the parent company of luxury department store chain Saks Fifth Avenue, is considering a potential Chapter 11 bankruptcy filing as a last-resort option to address mounting liquidity constraints and near-term debt obligations, according to a Bloomberg report. The publication reported that Saks is evaluating bankruptcy as part of a broader effort to manage its balance sheet rather than as an imminent filing. The company faces a debt payment of more than $100 million due by the end of December, limiting its financial flexibility. According to the report, which cited people with knowledge of the matter, Saks has...