Poor Payors: Assessing the Storm Around Saks

Dear BoF Community,

Late last week, we started to receive DMs and WhatsApp messages with screenshots of a letter written by Saks Global CEO Marc Metrick to the more than 2,000 brands that populate the floors and e-commerce websites of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.

One DM we received from one New York fashion brand summed up the general sentiment: “We have not been paid by Saks for over a year. We also have unpaid invoices from Neiman’s and Bergdorf’s. This is a…