world
Saks Global emerges from bankruptcy as Exemplar Luxury Group after closing many stores
Saks Global exited bankruptcy on June 26 with a new corporate name, sharply lower debt and fewer stores. The restructured company now operates 49 locations focused on luxury customers.
AB
abcnews.go.comAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Saks Global emerged from Chapter 11 bankruptcy protection on June 26, 2026, under the new name Exemplar Luxury Group, @ABC reported. The company reduced its debt by nearly 75 percent and obtained $500 million in additional financing. CEO Geoffroy van Raemdonck said the emergence marks a fresh start for the three luxury banners.
“Today is really a brand new day for the organization and a new day where these three iconic banners have the right funding, the right equity and a bright future ahead of them,” he told @ABC. The company now runs 15 Saks Fifth Avenue stores, 33 Neiman Marcus locations, one Bergdorf Goodman store on Fifth Avenue and 12 Saks Off 5th outlets.
Before the filing it operated 33 Saks stores, 36 Neiman Marcus locations, the Bergdorf Goodman store and roughly 70 Saks Off 5th discount outlets.
Saks Global filed for Chapter 11 protection in January 2026 after acquiring Neiman Marcus in July 2024. It employs more than 1,500 sales associates who have each sold over $1 million in goods. Pentwater Capital Management and Bracebridge Capital each hold two seats on the seven-member board.
Dave Kimbell, former Ulta Beauty CEO, and Philippe Schaus, former Global CEO of Moët Hennessy, will also serve as directors alongside van Raemdonck.
