Saks Fifth Avenue is bankrupt

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Phil C. McNasty

Go Jays Go
Dec 27, 2010
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Saw this coming from a mile away.
I was in their Sherway Gardens store last year and there were 100 employees and 2 customers on their floor

www.ctvnews.ca

Luxury retailer Saks seeks bankruptcy protection overwhelmed by debt

The owner of Saks Fifth Avenue is seeking bankruptcy protection, buffeted by rising competition and the massive debt it took on to buy its rival in the luxury sector, Neiman Marcus, just over a year ago.
www.ctvnews.ca www.ctvnews.ca
 
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roddermac

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Mr Deeds said:
Maybe people are finally started to wake up and realize that over paying to wear somebody else's name on their cloths isn't a sign of wealth or class it's stupidity
Click to expand...
I don't think it's a wake up call. Seems more like younger generations care more about the latest IPhone than they do the Fall Collection.
 
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K Douglas

Half Man Half Amazing
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Room 112
I've never even gone in a Saks Fifth Avenue. Overpriced junk.
 
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xix

Time Zone Traveller
Jul 27, 2002
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La la land
anon1 said:
Imagine the real estate value of a square block of downtown Manhattan on 5th Avenue?
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100 k per Squared feet? per floor?

It would be like that other garbage can in billionaire road 432 Park Avenue.
 
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Phil C. McNasty

Go Jays Go
Dec 27, 2010
31,444
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113
Mr Deeds said:
Maybe people are finally started to wake up and realize that over paying to wear somebody else's name on their cloths isn't a sign of wealth or class it's stupidity
Click to expand...
I think it has more to do with the Amazon/Ebay effect.
I dont remember the last time I bought clothes in a store, but it was probably over a decade ago.
Why shop retail when you can just buy a pair of jeans with a click of a button??

www.buckle.com is my other favourite site besides Amazon
 
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xmontrealer

(he/him/it)
May 23, 2005
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Phil C. McNasty said:
I think it has more to do with the Amazon/Ebay effect.
I dont remember the last time I bought clothes in a store, but it was probably over a decade ago.
Why shop retail when you can just buy a pair of jeans with a click of a button??

www.buckle.com is my other favourite site besides Amazon
Click to expand...
While I shop on Amazon for many electronics, paper goods, and other basic items, I would never buy jeans on-line.

I need to see in the store fitting room mirror how they look on me...
 
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Phil C. McNasty

Go Jays Go
Dec 27, 2010
31,444
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Eddie Bauer now bankrupt as well

www.ctvnews.ca

Eddie Bauer looks to sell 220 stores in Canada, U.S. after bankruptcy filing

The future of Eddie Bauer’s Canadian stores is hinging on whether the company can find a buyer. The apparel retailer announced Monday that it is looking to sell the 220 stores it has across Canada and the U.S. after filing for bankruptcy protection south of the border.
www.ctvnews.ca www.ctvnews.ca
 
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Valcazar

Valcazar

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