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Shein And Fast Fashion Retailers Make Saks Global, The Longtime Leader of Luxury Department Stores Bankrupt

Saks Global, the parent company behind the 159-year-old department store that’s become both a destination and a symbol for luxury fashion, filed for Chapter 11 bankruptcy protectionon Wednesday after an unsustainable debt pile crushed its business.
Los Angeles Times Published: January 14, 2026 | Updated: January 15, 2026 4 minutes read
108249029-17677346672026-01-06t211718z_942828322_rc2vviaxuan1_rtrmadp_0_saks-global-bankruptcy

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