saks fifth avenue goes bankrupt. Socialism 101.

[4thIDvet]

Saks Global, the parent company of Saks Fifth Avenue and Neiman Marcus, filed for Chapter 11 bankruptcy in Jan. 2026 following a debt-fueled 2024 merger. The luxury retailer secured $1.75B in financing to stay open, but is closing over 20 stores, including several Saks locations, to restructure amidst severe vendor payment delays and inventory shortages. [1, 2, 3, 4]

saks fifth avenue goes bankrupt - Google Search

This commie mayor Mandingo is literally destroying the city faster than a speeding bullet. Socialism at its best.

[44044]

Does the public’s buying habits have

anything to do with the demise of so

many giants?…Sears, Monkey Ward,

KMart, Western Auto, etc…

It would seem to me that it would be

next to impossible for any large retailer

to get funding to continue operations

It seems that the banks have advanced

money foolishly…

[Sanders]

Money's tight. Saks/Neiman Marcus are high-end retailers selling luxury goods. First thing to go in such an economy are the luxury goods.

[4thIDvet]

Yes you both made good points. No matter how much money people have when things get tight people as your saying start sizing down looking for better prices. Myself personally I am getting older and that 60 mile round trip drive to get a few items I need is a pain in the ass. Plus it ties up the whole day for one or two things.
Hello Amazon. That company is so efficient most purchases are at my door the next day. I purchased 'prime' so that takes care of shipping costs. Plus I use E-Bay on occasion. Been purchasing Air Force survival knives and bayonets on E-Bay as the prices have been going up with them. Buy put them away better than loosing money in the banks.
Prices have more than doubled on them in the past year or two.

B116 Vintage US Camillus Pilot Survival Knife w/ Sheath Stone 1/1967 Matching | eBay

[GARANDNUT]

Money's tight. Saks/Neiman Marcus are high-end retailers selling luxury goods. First thing to go in such an economy are the luxury goods.

Not really. Luxury goods are in full demand. Cirrus Aircraft cannot meet the demand for 1.5 mil airplanes. Average house price is now over 500k. High end yachts sold before they are built. People are buying every 70K trucks that are built. The people who's wealth has outpaced inflation are doing very well and, adjusted for inflation, these luxury goods are cheaper than ever for them. The problem is the middle class is squeezed to death and cant buy a starter home and the general cost of living is strangling them. This is the way in a socialist style economic system. The great middle class that allowed us to live like kings is long over. If you don't make 300K per year you will struggle.

[ColonelKorn]

If I had all the money I could ever dream of I'd still live like a bum and not buy all that crap.

[Driswalds]

I could care less if they close all the Saks. Nothing they sell I would ever want to buy.
If they dont have a sporting goods department, no need for me to even go in.

[Klauss]

Outside of a decent suite for job interviews and funerals I don’t have a need for fancy clothing anything.

I will pay more for a good winter coat that will last me several seasons or something similar.

I try and be more about substance over style.

[mrkalashnikov]

I've never set foot in a Saks. Guess I'll never know now what I missed.