Investors have known Saks was struggling for years— it’s now reached its breaking point. Late payments to vendors, a failed turnaround attempt, declining sales and a missed interest payment to bondholders for its Neiman Marcus acquisition ultimately led to a Chapter 11 bankruptcy at the start of 2026. CNBC’s Gabrielle Fonrouge breaks down how one of America’s most beloved department stores landed itself here. Watch the video to learn more.
Produced and Shot by: Ryan Baker
Reporter: Gabrielle Fonrouge
Edited by: Darren Getter
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images
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