Saks Global said more than 380 brands have resumed shipping merchandise to its stores, with inventory flow improving weekly since mid-January, CEO Geoffroy van Raemdonck said in a LinkedIn post.
The update follows a second-day bankruptcy court hearing that unlocked additional financing. Saks Global gained access to $325 million from its $1.75 billion debtor-in-possession package, bringing total funding accessed since mid-January to roughly $825 million.
Another $300 million tranche is expected in the coming weeks, van Raemdonck said.
“With this added funding, we continue to have the liquidity necessary to deliver on our go-forward commitments to our customers, colleagues and brand partners,” he wrote.
Vendor payment disputes were a key factor in the retailer’s Chapter 11 filing. Even before Saks Global’s $2.7 billion acquisition of Neiman Marcus Group in late 2024, an increasing number of suppliers had begun withholding shipments over unpaid invoices, leading to inventory shortages that weighed on sales by the second quarter of 2025.
While the company told the court it has resolved the majority of formal and informal objections to its financing, some suppliers remain cautious.
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Vendors told Retail Dive they are in wait-and-see mode and prepared to halt shipments again if payments are not made on time.
For many, payment clocks were effectively reset by the bankruptcy filing, meaning invoices on standard net-30 terms are not yet overdue.
Last week, the court authorized Saks Global to pay certain prepetition claims to “critical vendors.”
Several major luxury houses, including Kering, LVMH Moët Hennessy Louis Vuitton, Moncler and Richemont, had filed objections tied to protections for consigned merchandise.
While large brands owed significant sums are likely to be prioritized, smaller and niche labels remain critical to differentiation at Saks Global’s banners, including Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.
Van Raemdonck acknowledged “there is still important work to be done” and said the company will continue engaging with vendor partners as the restructuring progresses.
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