Saks Global Secures $1.75 Billion of Committed Capital and Announces Return of Industry Veterans to Advance Transformation of Iconic Luxury Portfolio
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Saks Global secures $1.75 billion of committed capital and announces return of industry veterans to advance transformation of iconic luxury portfolio. News provided by. Stores and ecommerce experiences across Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow are open and serving customers Former Neiman Marcus Group CEO Geoffroy van Raemdonck named Saks Global's CEO, joining CFO Brandy Richardson and the Company's leadership team NEW YORK, Jan. 14, 2026 /PRNewswire/ - Saks Global Holdings LLC ("Saks Global" or the "Company"), a leading luxury retail company, today announced a transformative financial transaction. The Company secured a financing commitment of approximately $1.75 billion, comprising $1.5 billion from an ad hoc group of the Company's senior secured bondholders (the "Ad Hoc Group") and approximately $240 million of incremental liquidity from the Company's asset-based lenders. This financing package will strengthen the Company's balance sheet and position it for a strong and stable future while it continues to provide customers with unparalleled multi-brand luxury shopping experiences. In addition, Saks Global announced the appointment of Geoffroy van Raemdonck as Chief Executive Officer, effective immediately. With support from its key financial stakeholders, Saks Global has commenced voluntary chapter 11 cases in the...
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Van Raemdonck joins Saks Global's Chief Financial Officer Brandy Richardson, who served as CFO alongside him at Neiman Marcus Group.
