Indeed most of the chains [Saks Global executive chairman and newly appointed CEO Richard] Baker has touched in the last two decades have failed—and reports over the weekend suggest the Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman luxury department stores that he brought together in a 2024 deal that created Saks Global could be heading to bankruptcy court soon. (The company had been known as Hudson’s Bay Company for years, but switched to Saks Global when Baker spun out Saks and bought its arch-rival Neiman.)
— Read more in How a real estate scion’s risky dealmaking pushed Saks Global to the brink at Fortune.
This is very sad
Not as sad for me as the demise of Lord & Taylor. Years later, I still miss that store. They had the best petites selection ever!
Lord and Taylor had a nice coat check and wrapping
He’s the same guy who owned L&T until 2019; you could argue he pretty much destroyed them too. And Hudson’s Bay.
Yes, I read that in the article, which led to my comment above. 😉 I fondly remember shopping at Hudson’s when I lived in Michigan. I bought my bottle of Oscar de la Renta there, when I went shopping with a friend. That was a fun time.
Had to hop in the way-back machine for that one!
I’m very sorry to hear this. I had been aware of Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman & the like for some time so the first time my husband & I visited friends near Houston we went to Dallas for a few days & I was thrilled to go to the original Neiman Marcus department store there, & even more thrilled when I realised that Annick Goutal products had just landed in the US & were being heavily promoted with a “buy one get one half price” deal! Cue my purchase of two bottles of Eau de Camille, for considerably less than I had previously paid at Harrods, Harvey Nichols or Selfridges. I hope the current situation can be resolved & the businesses can be saved.