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CORPORATE FRANCHISE BUSINESS OPPORTUNITY IN INDIA

Luxury retailer Saks Global CEO Marc Metrick steps down as bankruptcy looms

The change at the top comes days after the Wall Street Journal reported that the Neiman ‌Marcus parent ‌company is preparing for bankruptcy after missing an interest payment exceeding $100 million on debt from its Neiman ‌merger. Saks Global was created after Saks Fifth Avenue parent Hudson's Bay Company acquired rival Neiman Marcus, bringing together the two upmarket department store chains to control costs amid uneven demand and better compete with rivals such as Nordstrom and Macy's ​Bloomingdale's.

from Top Retail News | Latest Retailing & Retail Industry Information and Updates: ET Retail : ETRetail.com https://retail.economictimes.indiatimes.com/news/apparel-fashion/luxury/luxury-retailer-saks-global-ceo-marc-metrick-steps-down-as-bankruptcy-looms/126316319
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