Saks is facing criticism as several vendors allege the company has failed to pay long-overdue invoices despite the promised deadline having already passed.

Renowned as a major player in luxury retail, Saks operates high-end department stores under the Saks Fifth Avenue and Saks Off 5th banners. In December 2024, the company completed its acquisition of Neiman Marcus Group for $2.7 billion, expanding its portfolio by adding Neiman Marcus and Bergdorf Goodman brands.

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The acquisition was intended to turn Saks into a luxury retail powerhouse and improve its financial standing. Instead, it has become an expensive nightmare.

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Before the acquisition, Saks ha

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