
Saks CEO Out as Debt Crisis Deepens
Saks Global CEO Marc Metrick resigned amidst financial turmoil, including a missed debt payment and potential bankruptcy filing, prompting Executive Chairman Richard Baker to step in. The company, burdened by $2.7 billion in debt from the 2024 Neiman Marcus acquisition, saw revenue decline by over 13% to $1.6 billion in the most recent quarter, signaling significant market challenges for the luxury retailer.



















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