Saks Global exits Chapter 11 as Exemplar Luxury Group

Shubhendu Vimal

Mon, June 29, 2026 astatine 4:15 AM CDT 2 min read

Saks Global has completed its Chapter 11 restructuring and re-emerged nether the sanction Exemplar Luxury Group (ELG), cutting its full indebtedness by adjacent to 75%.

The company, which operates Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman, said it has entered caller ownership with a "strengthened" equilibrium sheet, "sufficient" liquidity and a rationalised store estate.

ELG intends to turn its presumption successful US multi-brand luxury retail done a exemplary spanning carnal stores, integer commerce and distant selling channels.

The committee of directors has been reconstituted pursuing the emergence.

Restructuring partners Pentwater Capital Management and Bracebridge Capital volition each clasp 2 of the 7 committee seats.

Two autarkic directors person been appointed to the board.

The first, Dave Kimbell, antecedently served arsenic CEO of Ulta Beauty and has held elder roles astatine PepsiCo and Procter & Gamble. He presently sits connected the committee of Best Buy.

The second, Philippe Schaus, formerly held the positions of president and planetary CEO of Moët Hennessy and planetary president and CEO of DFS Group, and spent much than 12 years arsenic a subordinate of LVMH's enforcement committee.

ELG CEO Geoffroy van Raemdonck said: "Moving guardant arsenic Exemplar Luxury Group reflects the shared ideals that anchor each of our banners and our committedness to mounting the modular of excellence for luxury retail crossed each three.

"As the gateway to the US luxury customer, we are uniting coveted brands with unrivalled lawsuit experiences to thrust maturation for Exemplar Luxury Group and the broader luxury ecosystem."

ELG said it plans to usage lawsuit insights to signifier merchandise ranges and present "personalised experiences" crossed each 3 of its retail brands.

The reorganisation program was approved earlier this period by the US Bankruptcy Court for the Southern District of Texas, aft the "overwhelming majority" of eligible creditors voted successful favour crossed the company's superior structure.

"Saks Global exits Chapter 11 arsenic Exemplar Luxury Group" was primitively created and published by Retail Insight Network, a GlobalData owned brand.