Bankrupt Saks Global rescues 3 stores from the chopping block in last-minute reversal

Andreea Neblea

You can still shop till you drop — sort of. The luxury department store conglomerate Saks Global — the parent company of Saks Fifth Avenue — has reversed a decision to shutter at least three stores this month, according to a report in CoStar . However, others will still close up shop to cut costs and restructure. Saks Global filed for Chapter 11 bankruptcy in January after racking up more than $4 billion in debt, barely a year after expanding its property footprint with the acquisition of

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