It’s the end of an era, some might say. 2026 might be the beginning of the end for some of New York City’s most beloved luxury department stores. As of Wednesday, Saks Global , the parent company of Saks Fifth Avenue , Neiman Marcus and Bergdorf Goodman, has filed for Chapter 11 bankruptcy. Before high-end shoppers go into a frenzy, it’s important to understand what exactly this means. By filing for Chapter 11, the high-end department store conglomerate can take a breather to reorganize its