June 8, 2026
Willkie successfully advised Saks Global Enterprises LLC through its restructuring process, paving the way for the company to exit chapter 11 in the coming weeks with a strengthened financial foundation. Saks Global’s comprehensive restructuring was led by an all-women core team, a rare milestone in the history of chapter 11.
On June 5, Judge Alfredo R. Perez of the U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s chapter 11 plan of reorganization which enables Saks, the largest multi-brand luxury retailer in the world, to exit bankruptcy having reduced its debt by nearly 75% and gained the liquidity necessary to support its operations and invest in its future. Saks Global commenced voluntary chapter 11 cases in January 2026 with the support of its key financial stakeholders. The restructuring was among the most complex in the luxury retail sector, presenting significant pre-filing challenges and intricate multi-stakeholder dynamics throughout the cases.
Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman and Saks OFF 5TH.
The restructuring team was led by partners Debra M. Sinclair, Robin Spigel, Allyson Smith and Charlotta Chung, and associate Betsy Feldman, whose leadership on this matter represents a rare milestone: an all-women core team that guided Saks through a process of exceptional complexity, both in the pre-filing period and throughout the chapter 11 cases.
The restructuring was supported by an experienced bankruptcy litigation team led by partners Christopher DiPompeo and Stuart Lombardi, and that included partners Nathaniel Ward, Philip DiSanto, John Brennan, Donald Burke, and Mark Stancil.
The team also included partners Gregory Astrachan, Michael Brandt, Jenn Coffey, Matthew Feldman, Todd Goren, Jennifer Hardy, Guy Inbar and Jeffrey Michalik, and associates Jessica Graber, Marine Loison, Daniel Morris, Timothy Ryan, Joseph Brandt, Caitlin Cosby, Max Freedman, Matt Waldrep, Jack Frisbie, Zain Syedain, Alec Klimowicz and Zachary Charlton, and law clerks Federico Curbelo, Lucas Immer and Marissa Sable.
On June 5, Judge Alfredo R. Perez of the U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s chapter 11 plan of reorganization which enables Saks, the largest multi-brand luxury retailer in the world, to exit bankruptcy having reduced its debt by nearly 75% and gained the liquidity necessary to support its operations and invest in its future. Saks Global commenced voluntary chapter 11 cases in January 2026 with the support of its key financial stakeholders. The restructuring was among the most complex in the luxury retail sector, presenting significant pre-filing challenges and intricate multi-stakeholder dynamics throughout the cases.
Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman and Saks OFF 5TH.
The restructuring team was led by partners Debra M. Sinclair, Robin Spigel, Allyson Smith and Charlotta Chung, and associate Betsy Feldman, whose leadership on this matter represents a rare milestone: an all-women core team that guided Saks through a process of exceptional complexity, both in the pre-filing period and throughout the chapter 11 cases.
The restructuring was supported by an experienced bankruptcy litigation team led by partners Christopher DiPompeo and Stuart Lombardi, and that included partners Nathaniel Ward, Philip DiSanto, John Brennan, Donald Burke, and Mark Stancil.
The team also included partners Gregory Astrachan, Michael Brandt, Jenn Coffey, Matthew Feldman, Todd Goren, Jennifer Hardy, Guy Inbar and Jeffrey Michalik, and associates Jessica Graber, Marine Loison, Daniel Morris, Timothy Ryan, Joseph Brandt, Caitlin Cosby, Max Freedman, Matt Waldrep, Jack Frisbie, Zain Syedain, Alec Klimowicz and Zachary Charlton, and law clerks Federico Curbelo, Lucas Immer and Marissa Sable.
