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Saks Global said on Friday CEO Marc Metrick has stepped down, naming executive chairman Richard Baker as his successor, amid reports that the luxury retailer is preparing for bankruptcy.
The CEO change comes days after The Wall Street Journal reported that the Neiman Marcus parent company is preparing for bankruptcy after missing an interest payment exceeding $100 million on debt from its Neiman merger.
Metrick spent nearly 30 years with Saks, heading the luxury portfolio including…
