Saks Global: Millions owed to Chanel, Kering, LVMH, and more

Saks Global’s journey to eventual bankruptcy had been heavily speculated by industry insiders for months. Suspicions were then confirmed Wednesday, when the US retail giant officially filed for Chapter 11 protection in a Texas bankruptcy court, where documents have revealed the extent of financial challenges faced by the company.

In its filing, Saks Global estimated its liabilities to be between 1 and 10 billion dollars, with its number of creditors sitting in the range of 10,001 to 25,000. While its bankruptcy has no doubt caused uncertainty for smaller labels partnered with the group’s retailers, Saks also owes significant sums to major fashion and beauty players.

The company was required to list the 30 creditors with the largest claims in court documents. Here is who is impacted in fashion:

Chanel: 136 million dollars

Kering: 59.9 million dollars

Rosen-X: 41.4 million dollars

Capri Holdings: 33.3 million dollars

Mayhoola: 33.2 million dollars

Richemont: 30 million dollars

Ermenegildo Zegna: 26.3 million dollars

LVMH: 26 million dollars

Akris: 23.1 million dollars

Christian Louboutin: 21.6 million dollars

Brunello Cucinelli: 21.3 million dollars

G-III Apparel Group: 16.7 million dollars

Puig Brands: 12 million dollars

David Yurman: 11.5 million dollars

B.H. Multi Com: 11.2 million dollars

S Rothschild and Company: 10.8 million dollars

Giorgio Armani: 10.8 million dollars

Roberto Coin: 9.8 million dollars

Sisley: 9.6 million dollars

Burberry Group: 9.5 million dollars

Centric Brands: 9.2 million dollars

Vince Holding Corp.: 9 million dollars