Judge Lets Saks Tap Emergency Financing Amid Amazon Dispute
TL;DR Summary
A U.S. judge rejected Amazon’s bid to block Saks Global’s Chapter 11 financing, allowing Saks to draw about $400 million in emergency funding and proceed toward a larger $1.75 billion package, with further court scrutiny and challenges from Amazon and other creditors likely ahead.
- U.S. Judge Rejects Amazon’s First Attempt to Block Saks’ Bankruptcy Funding TipRanks
- Amazon threatens 'drastic' action after Saks bankruptcy, says $475M stake is now worthless CNBC
- Death of a dream: Saks’ crisis exposes luxury department store woes Financial Times
- Why Saks collapsed while the rest of luxury retail is growing NBC News
- Saks Bonds Worth Just 1 Cent Hand Hedge Funds a Painful Lesson Bloomberg.com
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