Saks Hires Adviser to Address Inventory Struggles Amid Bond Rout

Saks Global Enterprises is working with Berkeley Research Group to address its inventory and cash-flow pressures, according to people with knowledge of the situation.

The luxury retailer cut its full-year guidance in October after reporting declining sales tied to inventory management challenges, and continues to delay payments to some vendors to conserve cash.

The company, which restructured its $2.2 billion debt load in August, has seen its bonds fall sharply in recent weeks ahead of a more than $100 million interest payment due at the end of the month.

Saks and BRG, which advises on both retail operations and financial ...