Amazon is very unhappy with luxury brand Saks; blames it for ‘burning hundreds of millions of dollars in less than a year’; warns …
Amazon is very upset with luxury retailer Saks Global. The ecommerce giant Amazon is pushing back against Saks Global’s bankruptcy financing plan. Saks Global filed for Chapter 11 bankruptcy protection recently. Amazon has warned that it may seek “more drastic measures” if Saks doesn’t “resolve” its concerns. Saks is the owner of department stores Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman. The e-commerce giant invested $475 million of preferred equity in Saks Global in December 2025. As per court filing, Amazon invested the $475 million into Saks as it finalized its acquisition of Neiman Marcus Group in a $2.7 billion deal.
