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Saks Global is preparing to file for bankruptcy in the coming weeks after missing a debt payment tied to its Neiman Marcus acquisition, the Wall Street Journal said on Wednesday, citing people familiar with the matter.
The parent of high-end department store chain Saks Fifth Avenue failed to make an interest payment of over $100 million due on Tuesday on its bonds, and is in talks with its creditors to secure financing for the bankruptcy process, the report added.
Saks Global did not…
