Amazon Files Objection to Saks Global’s Bankruptcy

Amazon made its position very clear in filing an objection to Saks Global’s planned Chapter 11 bankruptcy proceedings, with the e-comm giant having invested $475 million in the Saks acquisition of Neiman Marcus which took place in December 2024. “That equity investment is now presumptively worthless… Saks continuously failed to meet its budgets, burned through hundreds of millions of dollars in less than a year, and ran up additional hundreds of millions of dollars in unpaid invoices owed to its retail partners,” Amazon’s attorneys detailed in the Jan. 15 filing (via CNBC).