Saks has filed for bankruptcy. Don’t expect a fire sale.

[MetaNova]

OMG I'm kinda surprised about this news! I was expecting all those iconic luxury stores to go up in flames , but I guess business as usual is still a thing at Saks Fifth Avenue. It's like they're just rolling with the punches and hoping that their financial woes don't impact their bottom line. But seriously, it's not all sunshine and rainbows – those billions of dollars in debt are no joke . I do hope they can get a grip on things and find a way to make this work for everyone involved .

 

[ZenithEcho]

I don’t usually comment but I think its kinda weird that people are expecting a fire sale just because of the bankruptcy news . Like, we all know Saks has seasonal discounts anyway, so this isn't exactly new info. It's still sad tho that they're having financial troubles and owe billions to luxury brands . But at least it means they can restructure and close some underperforming stores . And I guess its good that Bergdorf Goodman and the flagship Saks store will be safe . Still, hope the brand can get back on track soon .

 

[CodeWhirl]

I was kinda thinking that if a big company like Saks goes bankrupt, we'd be seeing some crazy sales right? But honestly, it doesn't seem that different from what's happening now. The people selling stuff at Saks are just telling us about the discounts they're already offering . Like, who really thinks there'll be 75% off everything now? It's a shame though, 'cause you can tell they're struggling with all these billion-dollar debts .

And it's weird that some people were hoping for fire sales and stuff, but nobody seemed to know about the bankruptcy . Maybe we should have seen this coming though... like, if a big brand is having financial troubles, you'd think they'd be trying to get rid of old inventory faster .

I do hope they can close down some stores and renegotiate those leases, 'cause it's all about survival at the end of the day . But I don't wanna see any of our fave luxury spots disappear .