Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTHillary RemySun, June 14, 2026 at 9:13 PM GMT+2 5 min readOn January 14, the company behind some of the most recognizable names in American department stores filed for Chapter 11 bankruptcy protection. The filing followed months of delayed payments to vendors, the kind of slow-motion crisis that has ended plenty of legacy retailers for good.The filing came less than a year and a half after the company itself was created through a major merger, an acquisition that combined two struggling department store chains into a single entity in the hope that scale would solve problems neither company could solve on its own. Instead, the combined company filed for bankruptcy faster than either predecessor had on its own.Five months after that filing, a federal judge in Houston used the word "extraordinary" to describe what the company had managed to do since.That company is Saks Global, the parent of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman. On June 5, U.S. Bankruptcy Judge Alfredo Perez approved the company's Plan of Reorganization, clearing the path for Saks Global to formally exit Chapter 11 in the coming weeks, according to