(Jan 4): Saks Global Enterprises is in talks to secure a loan of about US$1 billion as it prepares for a possible Chapter 11 bankruptcy filing in the coming weeks, Bloomberg News reported on Sunday citing people familiar with the matter. Saks Global did not immediately respond to a request for comment. Reuters could not immediately verify the report. Bondholders have discussed a debtor-in-possession (DIP) loan structure that could include at least US$750 million in new money and a roll-up of existing debt to allow the New York-based company to continue operating after it files for bankruptcy, the Bloomberg report added. Earlier this month, Marc Metrick stepped down as chief executive of the company and Richard Baker was named as his successor.

Source: The Edge Markets January 05, 2026 02:08 UTC