Saks Global's Lenders May Take Control After Bankruptcy Filing
Saks Global is nearing the end of its bankruptcy process, with its ad hoc group of lenders holding significant debt and potentially taking control of the company. The group provided $1.5 billion in debtor-in-possession financing in January, which was crucial for the company's survival. The largest lender, Pentwater Capital Management, holds $1.2 billion in Saks Global debt.
Topics: ad hoc committee bankruptcy debt lenders restructuring retail Saks Global