Cash-Strapped Saks Skips Bond Payment Amid Talks With Cre...
Saks Global Enterprises, the cash-strapped retailer, skipped an interest payment to bondholders totaling more than $100 million that was ...
Whatโs Happening
Alright so Saks Global Enterprises, the cash-strapped retailer, skipped an interest payment to bondholders totaling more than $100 million that was due Tuesday as it looks to negotiate a deal with creditors, according to people familiar with the situation.
Markets Bonds Cash-Strapped Saks Skips Bond Payment Amid Talks With Creditors Facebook X LinkedIn Email Link Gift Expand Shoppers outside a Saks Fifth Avenue store in New York. Blue/Bloomberg Facebook X LinkedIn Email Link Gift Gift this article Contact us: Provide news feedback or report an error Confidential tip? (plot twist fr)
Send a tip to our reporters Site feedback: Take our Survey New Window Facebook X LinkedIn Email Link Gift By Reshmi Basu and Eliza Ronalds-Hannon at 6:05 PM UTC Bookmark Save Saks Global Enterprises , the cash-strapped retailer, skipped an interest payment to bondholders totaling more than $100 million that was due Tuesday as it looks to negotiate a deal with creditors, according to people familiar with the situation.
Why This Matters
The luxury department-store chain is now operating under a grace period amid restructuring talks, dropped the people, who asked not to be identified discussing a private matter.
This reflects broader trends weโre seeing in the business world right now.
The Bottom Line
This story is still developing, and weโll keep you updated as more info drops.
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Originally reported by Bloomberg
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