On February 26, 2026, it was reported, More than 380 brands have resumed shipments to Saks Global stores, with inventory flow improving each week since mid-January, CEO Geoffroy van Raemdonck said in a LinkedIn post this week. The sign of improvement in what has been a longstanding problem for the luxury retail giant follows a second-day hearing in its bankruptcy proceeding that unlocked further financing. Saks Global garnered access to $325 million from its $1.75 billion financing package, per van Raemdonck's post. That makes about $825 million since mid-January, with "another $300 million tranche expected in the coming weeks," he said. Failure to pay invoices helped land Saks Global in bankruptcy court. For the past year, beginning before the company's $2.7 billion acquisition of Neiman Marcus Group in late 2024, an increasing number of vendors balked at sending shipments. A resulting dearth of inventory was hurting sales by the second quarter of 2025. Last week the bankruptcy court authorized Saks Global to pay claims, outstanding before the filing, to certain "critical vendors." The company told the court it had "resolved the majority of formal and informal objections" to its financing. A number of luxury brands, including David Yurman, Kering, LVMH Mot Hennessy Louis Vuitton, Moncler and Richemont previously filed objections over concerns that their rights to consigned merchandise be protected. Those major fashion brands, owed substantial sums, were always likely to be ahead of smaller vendors in line to be paid once Saks Global filed for bankruptcy.
Country Willow, a New York-based home furnishings retailer and design center operating under the Willow Furniture name, has filed for Chapter 7 bankruptcy protection, according to filings in the U.S. Bankruptcy Court for the Southern District of New York. The case (No. 26-22112) was filed Feb. 2 and has been assigned to Judge Sean H. Lane. A According to the voluntary petition, the company reported estimated assets between $1 million and $10 million and liabilities between $10 million and $50 million. The filing lists between 50 and 99 creditors. Additional details regarding creditors and financial obligations are expected to be disclosed in future court filings. Founded in 1996, Country Willow has operated for roughly three decades as a lifestyle home furnishings retailer serving the New York tri-state region. The company has offered furniture, home dcor and interior design services, with its primary showroom located in Bedford Hills, positioning itself as a destination-style retail and design center. The filing reflects ongoing challenges facing independent and design-oriented furniture retailers, including softer housing activity, uneven discretionary spending and continued competitive pressure from larger national retailers and e-commerce channels.
On December 30, 2025, it was reported, Saks could be the next department store to seek relief in bankruptcy court amid growing liquidity challenges. Saks Global Enterprises, the parent corporation of Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus, and Bergdorf Goodman, is weighing a Chapter 11 bankruptcy filing as they contend with mounting debt, people familiar with the matter told Bloomberg. This decision comes as the retailer is facing a more than $100 million debt payment due at the end of December. SAKS FIFTH AVENUE SHUTTING DOWN SAN FRANCISCO AFTER 45 YEARS. Reports began circulating that CEO Marc Metrick may also be preparing to step down. Metrick took the helm in December 2024 when Saks Global finalized its $2.7 billion acquisition of Neiman Marcus Group. Under the terms of the deal, Saks Global added Neiman Marcus and Bergdorf Goodman to its portfolio and appointed Metrick to lead the Saks Global Operating Group, which includes Saks Fifth Avenue and Saks OFF 5TH. But it has been seeking to alleviate financial pressures ever since. Over the past year, Saks cut hundreds of jobs and shuttered stores and corporate offices. In fact, Saks Fifth Avenue, along with Saks Off 5th and Hudson's Bay stores, also closed the majority of its locations in the Canadian market. It will continue closing stores next year as well. For instance, it's already planning to close certain Saks OFF 5TH stores starting in early 2026 as part of a broader effort to "optimize" its store. In September, reports surfaced that it was even exploring the sale of a minority stake, about 49%, in Bergdorf Goodman for about $1 billion. People familiar with the matter told The Wall Street Journal that there had been at least four potential bidders.
On December 11, 2025, it was reported, Hooker Furnishings reported a deeper third-quarter loss as hospitality project timing, non-cash impairment charges and continued macroeconomic pressure weighed on results, but executives said the company's recent strategic divestiture and upcoming product launches have set it on a clearer path toward profitability. For the quarter ended Nov. 2, consolidated net sales fell 14.4% from the prior year, driven primarily by an $11 million decline in Samuel Lawrence Hospitality (SLH) shipments. Operating loss totaled $16.3 million, largely the result of $15.6 million in non-cash intangible impairment charges. Loss from discontinued operations was $8.6 million. The company also completed a major portfolio shift. On Dec. 1, Hooker announced the sale of its Pulaski Furniture and Samuel Lawrence Furniture value-priced brands within the Home Meridian (HMI) segment. T Margaritaville launch exceeds expectations Hooker executives highlighted what they view as the company's most significant organic growth driver: the new Margaritaville licensed collection, which debuted at the October High Point Market. The company said 55 retailers have already committed to installing Margaritaville-branded galleries. Hoff said the company's revised warehouse strategy centered on its new Vietnam facility now allows "collections from our various suppliers to be mixable in single containers and providing six to 10-week fulfillment to our customers' door,". S&A expenses declined $5.9 million in Q3 and $9.7 million year-to-date, reflecting restructuring progress . Hooker repaid $17.9 million of debt year-to-date and ended the quarter with $63.8 million in borrowing capacity. Inventory decreased to $52.1 million.
