business
Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name
By Anne D'Innocenzio, Associated Press at KSAT 12 (ABC affiliate)
· June 26, 2026
· 2 min read
Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman, officially emerged from Chapter 11 bankruptcy Friday with fewer stores, less debt, a more focused strategy to pamper the affluent — and a new name.The company said Friday that the new entity will be called E...
Key takeaway The company said Friday that the new entity will be called Exemplar Luxury Group, and with an improved balance sheet, including a nearly 75% debt reduction and $500 million in extra financing.
Why this matters in The San Antonio
The emergence of Exemplar Luxury Group from Chapter 11 bankruptcy has implications for San Antonio 's retail landscape, particularly in the luxury sector. With a more focused strategy to cater to affluent customers, the company's decision to shutter most of its Saks Off 5th discount stores may impact local shoppers who relied on these outlets for luxury goods at discounted prices. However, the revamped approach may also bring new opportunities for high-end retail in San Antonio, potentially attracting more luxury brands to the city. The fact that Exemplar Luxury Group has reduced its debt by nearly 75% and secured $500 million in extra financing suggests a more stable financial footing, which could lead to investments in its remaining stores, including possibly the Neiman Marcus location in San Antonio. As the city's retail scene continues to evolve, the performance of Exemplar Luxury Group's luxury brands will be worth watching.
About this story
Original reporting by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: June 26, 2026 ·
Source: KSAT 12 (ABC affiliate) ·
Reading time: 2 min
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Frequently asked about this story
What is this story about? Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman, officially emerged from Chapter 11 bankruptcy Friday with fewer stores, less debt, a more focused strategy to pamper the affluent — and a new name.The company said Friday that the new entity will be called E...
When was this published? This article was first published on June 26, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Anne D'Innocenzio, Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The San Antonio, or browse our daily briefing and topic hubs .
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