What the Saks Bankruptcy Means for Shoppers, Stores: QuickTake

The Chapter 11 bankruptcy filing by Saks Global Enterprises on Jan. 13 has raised questions among shoppers and vendors about the future of the luxury retailer’s stores. Its biggest chains include Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman and the discounter Saks OFF Fth. Here’s what’s happening and what’s likely to happen next.

Pedestrians pass in front of the Saks Fifth Avenue store in New York.

Photographer: Allison Joyce/Bloomberg

What will become of Saks Global’s stores?

Chapter 11 is a kind of bankruptcy filing designed to avoid liquidation – when all stores are shuttered, employees are terminated, and merchandise is sold off to discounters such as TJ Maxx. Saks Global said in a statement on ...