Forbes
forbes.com
The filing comes a year after the company completed a high-profile merger combining Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman in a $2.7 billion deal.
1024 likes
60 quotes
Eleanor
oleander0.bsky.social
OMG! So sad!
Zigzaggreen🇨🇦
zigzaggreen.bsky.social
This is a scam to steal the money and not pay the employees or creditors. This is right out of the corruption playbook written by the Orange Pedophile. The Orange Turd scamed money every time he filed bankruptcy. Oh, is Forbes owned by pedophiles.
Greenstone📎
berncomar.bsky.social
You can run and hide from debt except when you file bankruptcy as a corporation. They knew they could always file bankruptcy to wiggle themselves out of this situation. No one is personally at risk except the underlings who get canned as a result.
hypertazdad.bsky.social
An elaborate pilfering of brand equity and real estate. Follow the money. Everyone makes money except the banks. But no one will be prosecuted because ‘it’s just business’!
dirkelee.bsky.social
😲
KellyR
krich58.bsky.social
Is this hedge fund managers, buying a company, extracting all the equity that was built up over years, then bankrupting the company? Ah, nothing like pure greed.
teresalfenton.bsky.social
But the great economy………….
lucygevy18.bsky.social
We can’t have nice things 😢😢😢😢😢😢🤬🤬🤬🤬👎👎👎‼️‼️
m wood
mwoodpen.bsky.social
Eras seem to be ending in lightening speed.
MarquesH
artgence.bsky.social
New world order - Gen X and the boomers have seen a lot of our childhoods disappear.
wearetheenemy.bsky.social
Could care less. This is not news worth knowing. This is 1%er news.
michianajohn.bsky.social
No more rich people.
AgnesBrowne
agnesbrowne.bsky.social
Predictable.
dabxdee.bsky.social
They can't make an interest payment, so they borrow more money?
H.K.
ivotecb4.bsky.social
$2.7Bill is a unprecedented amount of dealing on a circle-jerk..js
floriduhtom.bsky.social
ahh the joys of Fascism in America😠
angrylibra.bsky.social
How about those yachts though…. AM I RIGHT??!🛥️🙂↔️😅
PUBLIUS - Scientia potentia est
wearemadashell.bsky.social
Wow. I thought we’d be burning Saks merch for firewood in late stage Capitalism but here we are letting them get by with bankruptcy. What?! Was the markup on your shitty products not enough revenue for you elitist signalers?!?
Doctor Wylie
magcolorland.bsky.social
How about that roaring Trump economy, huh? Turns out Saks and Neiman Marcus found out their real customer base is the middle class—who's just been handed the economic short end of the stick by none other than the Trump administration. It's a real 'Trump winning' moment, isn’t it?
Kalleh Pacheh 🇮🇷 🇨🇦 🇺🇲
bzf1345.bsky.social
For Forbs and most of it's readers this is a economic event. For the employees , this is loss of livelihoods. Who cares, we all are replaceable and just resources.
Arch cam cam
archcamcam.bsky.social
They should have waited for a clearance sale, if you buy off season you can usually get 25-35% off, if you wait it out you might get a BOGO. Now they are all headed for liquidation.
Don Neel
donneel.bsky.social
Too many orange-haired rapists in the dressing rooms is the real reason.
blackwood57.bsky.social
Hold on, Trump told me this was a golden age for America. What's going on?
Big Head Tales
bigheadtales.bsky.social
Isn't that what usually happens? Big merger. Executives, the board, and filthy rich insiders make a huge windfall when the number goes up. Company crumbles under its own weight in debt, Execs get golden parachutes, insiders got out at the peak, and regular investors and workers get screwed.
Judy Marsh🇨🇦
valueaddedmomma.bsky.social
Well, they took The Hudson's Bay out last year, so I guess it was only a matter of time. Not many brick and mortar department stores left these days. Online shopping was the death knell.
Robert Fischoff
rfischoff.bsky.social
Buy the company for next to nothing down. Load the purchased company with the debt used to acquire it (leveraged buyout). Next, fire as many employees as you can get away with and make the remaining employees take up the slack “or else”. Suck out as much cash as possible. Declare bankruptcy.
Iconmom
iconmom9.bsky.social
Saks & Nieman Marcus two stores I enjoy shopping at very sorry to hear this.
PackerPat
packerpatb.bsky.social
Looks like they followed the Trump biz plan!
RiskBriefMX
riskbriefmx.bsky.social
In much of Latín América, Forbes type rankings do not measure success: they measure risk. In economies where political power needs antagonists, wealth visibility becomes a signal.
@DetroitJCS
detroitjcs.bsky.social
Oh, let me go 🤧 CRY in the corner somewhere - the HORROR! 😱
Kaitensatsuma
kaitensatsuma.bsky.social
lol
Thomas Wolfe
thomaswolfe.bsky.social
Smh, when our "financial geniuses" learned everything they know from watching "Pretty Woman."
Universal Movement For America
universal4usa.bsky.social
Gee, its almost like wealth hoarding at a corporate level is bad for business, too!
ed-never-forget.bsky.social
But/yet the investment bankers ($billionaires) made $millions
gui-tar.bsky.social
Karma is a b itch. Poor Rich people. Not…
weswie-114.bsky.social
Bummer.
Tanoota
tanoota3.bsky.social
Too bad, so sad.
Windahl
windahl.bsky.social
The work of vultures....I mean equity and asset strippers of course.
Cayus
cayusmalayus.bsky.social
But USA goes great! Sure…
Jo-democracyisfragile I stand with Ukraine! Slava Ukraine 🇺🇦🇺🇦
democracyisfragile.bsky.social
Sorry to see this happen.
Bob MG
bobmgump.bsky.social
Bankers always win.
Grimby
omegagrim.itch.io
Mitch Goldstone
scanmyphotos.bsky.social
😢
Liz N
thizizlizreally.bsky.social
Another one bites the dust.
rbsnst.bsky.social
Whoa……..wealthy folks have stopped purchasing goods or goods are too expensive even for them
❌👑
sallytofunaka.bsky.social
*sniff, sniff* Do I smell private equity?
AhClem
chairmanbarney.bsky.social
Tax the rich!
Victoria 📚
its-its.bsky.social
You'll see more of this in the next year.
A Gnome
misplacedgnome.bsky.social
Scootrbum
scootrbum.bsky.social
Won’t bother me if they both disappear.
Test Subject
testsubjectzeta.bsky.social
But trump said we are the hottest country in the world. How could luxury file chapter 11?
Random Select
randomselectrs.bsky.social
They've still got four avenues left, they'll land on their feet.
ladyggkittynumnums.bsky.social
ladyggkittynumnums.bsky.social
Private equity
Kimberly C. 🇺🇸❌️ 👑🐸🦄🌻❌️🤡
kimaresister.bsky.social
😪😪😪
airwreckkazillion.bsky.social
Eat the rich.
Just Jenny 867-5309
jenny867-5309.bsky.social
Trump’s economy going so well…
RJ Connell
deaconbluezzz.bsky.social
auntifa ✊️
billieho.bsky.social
their clientele is dying off, the rest of us are thrifting and trying to make enough for groceries each week.
neveratrueword.bsky.social
Barbarians at it again. Take out all the equity and cut them adrift, it should be illegal
Retired
1stclass.bsky.social
"Sorry" to read that.
alena90.bsky.social
Good deal
Mark Syzum 🇨🇦
mark-sysum.bsky.social
I tried to tell them. Don't invest in brick and mortar! But they decided to pay those schmucks millions instead.
Left Of Texas
leftoftexas.org
People are having a tougher time pretending to be wealthy
In The Isle 2028
intheisle2025.bsky.social
What will all of the PAINTED LADIES ON FOX do now? Walgreens?😆🤣🫡😂
In The Isle 2028
intheisle2025.bsky.social
Awesome Economy Trump!
sue19721954.bsky.social
Most people cannot afford these stores
Koto Composer
kotocomposer.bsky.social
People that rich should never be allowed to file for bankruptcy. Their money & assets should be seized instead.
raulhtx.bsky.social
Trump Making America Great Again 🥴🇺🇸
Diamonddeb87
diamonddeb87.bsky.social
Meanwhile Ive had to pay an attorney $700 (to start with) because I am being sued $4k+ by a Surgery Center for "extra" charges on a FSW income.
DC Yankee
jjarlva.bsky.social
Trump’s America. What a despicable POS!
Dyamant
bluemarcus.bsky.social
This is the operating mantra of the Wall St. hedge fund #oligarchs who buy and merge companies then charge the costs to these companies driving them to bankruptcy. THEN those debts get written off or settled for less. They collect 💰💰💰💰. They do not care about businesses, employees or customers. 🖕
BigRuckus8
bigruckus8.bsky.social
I assume this was the plan all along.
Antonio Ferranti
antonioferranti.bsky.social
Trump’s economy.
Olive Kosheluk
olivekosheluk.bsky.social
The real real and rent the runway are doing better than ever and Saks is going bankrupt. Rich people are buying second-hand and renting, but no— it's not a recession!
GenX-Kate‘StopThatEvil MF’r’ The Great💋🇺🇸🏳️🌈🥃🌮🍕
annieru0k.bsky.social
Ha!
shugarbooger.bsky.social
Must be nice
KayElan7ISO64🇨🇦
kayiso64.bsky.social
Good!
kimber68.bsky.social
WOW
Schrodinger's Leftist (he/they)
schrodingersleft.bsky.social
*yawn*
TheLeoTerrell'sStankyTaint
leosstankytaint.bsky.social
Too much rape.
exhaustedradical.bsky.social
Bon voyage.
KEVLAR
kevlar26.bsky.social
Fuckery
joezaja.bsky.social
So much for the K economy....
Saneman
saneman.bsky.social
Another failed republican economy....
djwmu1974.bsky.social
No one cares.
aquart1.bsky.social
SAKS GO BYEBYE ????
Trace Taylor & the Creative Educators' Coop
creativeeducators.bsky.social
I can’t believe they’ve managed to hang on as long as they did. 20 years longer than I expected.
Alice Lastname
aliceguthrie.bsky.social
wayhay! 🥳 🎉 rich fail 100% Money Laundering did everyone watch 'The Producers'?
Step 🐸
big-steppa.bsky.social
Hostile takeovers should be illegal This is anti-competitive behavior
Jon VG
jonvg.bsky.social
That's probably my fault...After I retired I quit spending money on nice clothes. Now I live in sweats from Costco.
GeoBern
geobern.bsky.social
Are we winning yet?
mlco.bsky.social
So much for trump Iconic companies going bust
rlnees.bsky.social
Two more leaders s for fascism. I mean Vought loves bankruptcy ceo's.
shiftyclown.bsky.social
Oh no! Where are we going to buy fake gold Trump watches and shoes? Oh yeah, his website.
resistanceisnow.bsky.social
Gee I don't have a college degree in anything and could see this fail...
heavenwaiting-53.bsky.social
Made all the money they needed for this ride. Time to start the next scam.
grumpinuts.bsky.social
Maybe they could sell off the cookie recipe?
Rogus
rogus69.bsky.social
Couldn’t happen to a finer bunch!
Womanatmile0
womanatmile0.bsky.social
But of course, the economy is fine according to the orange blob
Cece Russell-Jayne
cecer-j.bsky.social
🤣🤣🤣🤣
Denise Clair
deeclair.bsky.social
My mother rolls over in her grave.
Suz
lily2748.bsky.social
Thousands of employees lost their jobs with the mergers - the greed was their downfall, they destroyed three great stores that on their own were doing fine. The owners/boards did some private equity moves - sell off the real estate, shut down stores and pull in the profits, then go bankrupt. Shame!
Rakesh Krishnan Sinha
elontookitindaazz.bsky.social
Yes. Forbes shit next!
whydontyoucare.bsky.social
Love when a plan comes together…
333221c.bsky.social
So basically a government bailout… for billionaires
dueanime.bsky.social
Gerald Weinand
dirigoblue.bsky.social
Someone made a lot of money from this deal
hillb.bsky.social
Gaming the system
Ditsy Von Whatsit
ditsy.bsky.social
boo effing hoo.
Susan Kegeles, PhD
motherkegs.bsky.social
It seems insane - are these stores no more?
finallyretired.bsky.social
That’s a shame
Baksy (he/they), artist from Cleveland, OH
tokensbybaksy.bsky.social
So, c-suite took a golden parachute and fucked hundreds of employees out of a job?
Wannabe Utopian
wannabeutopian.bsky.social
The CEO should run for president- will be a shoe-in.
Future Political Prisoner
ignatiussuitangi.bsky.social
Just great, where am I supposed to buy Fabergé eggs now?
Curt
curtisma.bsky.social
Macy’s is tanking too.
PetkittybiteTrump
simonsmom.bsky.social
Wow, what happened? Aren't there enough well heeled customers for them?
beyondvoyager.bsky.social
Fun Fact #1: In late 2024, Hudson’s Bay (public owner of Saks Fifth Avenue) spun off its U.S. luxury assets, partnered with investors (Authentic Brands, Amazon, Salesforce, and other equity backers) to acquire Neiman Marcus for $2.7B, adding $2B in debt.
Stoic Thinker
stoicthinker2025.bsky.social
Not surprised. Who has the money to waste on luxury goods at exorbitant prices?
suegaone.bsky.social
So much WINNING!
Someone else
umi2025.bsky.social
Kind of a trump deal, what an art...
Matthew Lazin
matthewplazin.bsky.social
Let them die on their Hill of Citizen United Personhood as equal to actual human beings suffering and rights violations. They gambled and lost. See you tomorrow morning on the TJ Maxx chopping board
maureencon.bsky.social
Oh no where will the Uber wealthy shop.. Temu
Comrade Obvious
comrade-obvious.bsky.social
That's similar to how the Great Depression started: companies buying up other companies, then suddenly finding they didn't have enough money left to pay their workers and get any business done.
LoudLoveBird
loudlovebird.bsky.social
#Corporate #greed will die
RFK Brain Worm Jr.
planetofdinosaurs.bsky.social
Private equity raiding the coffers again. Kills every business it touches by design.
Helen Nowlin
hnowlinlaw.bsky.social
So, the wealthy or top 10% can't float an entire industry or economy by themselves. Oh? Do, tell that to republicans who give away tax benefits and demand nothing in return.
Veterans Against Trump
vetsat.bsky.social
Awww, you might want to consider that nobody can afford your stuff?
Sally Sparrow
hellodalgal.bsky.social
A few times a week, I walk past the Neiman Marcus where I shopped as a teen. It was full of affordable, attractive, well-made clothing, if you knew how to shop. 45 years later, I still have some of those clothes. Yes there was mad extravagance. But also common sense. They bet on the wrong values.
K Fitz 🌮
badlandslib.bsky.social
People will probably mock, but I am actually sad about this. Barney’s New York already gone. I only could afford to actually buy only occasionally when I found something great on sale, but it was a fun guilty pleasure to browse at great luxury department stores. I will miss them if they’re gone.
sween65.bsky.social
DT pushed them off the edge with tarrifs.
Healing Nation
healingnation.bsky.social
Coincidentally this administration has either closed or cut most of the checks and balances on any of the wealthy's "strategies" that make them more money while... ...ending employment for thousands of employees which hurts their families and those of supplier's families. It affects many.
TheIndependent
realindependent.bsky.social
So one again these extremely highly paid business executives who are supposed to be so smart prove they aren’t any smarter than the average person they employ for peanuts because peanut people have to live on a tight budget.
sweetchocolatemeat.bsky.social
NOBODY GIVES A FUCK
Healthcare-for-All
healthcare-for-all.bsky.social
So where exactly is the 2.7 billion? Or didn't it exist anywhere?
Publius
josey76.bsky.social
The private equity vultures stripped the carcass quickly this time
FLR
mdksun.bsky.social
Retail in the USA is completely dead. The man doesn’t want you out and about.
KimHop
lil2lins.bsky.social
Almost like they wanted to fail
workout63.bsky.social
I guess someday soon they'll become one of the common people...
Happy Warrior 🎙️🐝
happywarriorbee.bsky.social
We have a lottery not an economy
Melly Cumberbatch 🫘
mellycumberbatch.bsky.social
The super rich buy couture. Sams and Neimans are treats for the middle class. This, to me, is proof of how much financial pressure the middle class is under. It’s a bad sign for our economy. Remember the bankruptcies in T45?
Ron AM
insistent-resist.bsky.social
Wealthy people aren't spending enough of our money to keep the elite level crap peddlers afloat. Sad.
JustAGuyFromKY
justaguyfromky.bsky.social
The stores involved in that merger is the answer to the question…. In which 3 stores has Donald Trump sexuality assaulted a woman in?
makaleka
makaleka.bsky.social
greed'll get you every time.........I grew up with Saks and Bergdorf...........sad to see this happen
Tara
taradanger.bsky.social
Read. The. Room. #shareholderslast
georgefranceuil.bsky.social
Wealthy filing bankruptcy is a joke.
Alexanders Mistress
alexandersmistress.bsky.social
Are we making America GREAT again?
floydadatxjoe.bsky.social
This is part of the human problem
jimschef2025.bsky.social
Sak’s and Needless Markup. No biggie.
ojibwekwe.bsky.social
Yikes
DJ Loriee
djloriee.bsky.social
I wasn’t a shopper at these stores, but it’s sad to see the continued downfall of so many brick and mortar stores. I wonder if we will end up in a world with none and only online ordering until finally the pendulum swings
nihilismispointles.bsky.social
Oh boo fukin woo. Anda, oh yeah. F O.
Sheila
thedeplorables.bsky.social
Bankruptcy enables them to shed debt and come out stronger. It’s always part of a plan either way these high end mergers.
dragonflyhigh.bsky.social
This is an American greed disease apparently. One of the things I cannot wrap my mind around is how overtly greedy Americans are with their investments that destroy businesses, jobs and communities. I can only think that Americans are devoid of morals when they become "investors." Greed dominates.
nailegva.bsky.social
Neiman Marcus was a scam anyways
Ricard
the-real-ricard.bsky.social
In ch 11, they can break leases, write down secured creditors to the value of the collateral & screw both vendors (will pay going forward) & bond holders to whom they failed to make an interest payment of more than $100 million in Dec. I’d say it was planned before the merger.
bplsn18.bsky.social
End of an era. Thanks Amazon. 🖕
Michael Rowan
schulzfelix.bsky.social
Do you think the merger actually strengthened them, or just made things more complicated?
DebmBudd
tuppenceforthem.bsky.social
What? Did rich people stop shopping in New York City?