Saks Global to file for bankruptcy 'imminently' - Reuters

Saks Global is set to file for bankruptcy 'imminently,' as soon as today, Tuesday, according to a Reuters report.

• The company is reportedly close to finalizing $1.75 billion financing with creditors to allow its Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus stores to remain open.
• The financing would offer an immediate cash infusion of $1 billion through a debtor-in-possession loan.
• Investors include Pentwater Capital Management and Bracebridge Capital.

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