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Saks Hires Financial Advisors

May 13, 2025
SGB Update

Saks Global Enterprises has hired PJT Partners, Kirkland & Ellis and Bank of America Corp. to help the retailer explore ways to raise new financing alongside the asset-based loan it is pursuing, outlined in a report from Bloomberg.

Sources also told WWD that Saks is looking to tap into the capital markets to strengthen its liquidity and is not working with the teams that handle other situations, including bankruptcies.

Saks told investors on a call last month that the company was considering raising a “first-in, last-out” loan under the $1.8 billion borrowing capacity of its existing revolving credit facility, and that it was considering a sale of some of its real estate assets to shore up its finances.

The moves come as bonds that Saks sold to finance its $2.7 billion acquisition in 2024 have lost almost half their value since being issued in December 2024.

Image courtesy Saks

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