Amazon Saxes Saks Investment Worthless After Bankruptcy
- Amazon is seeking to block Saks Global's bankruptcy financing plan, arguing the department store rapidly depleted funds and violated their agreement following a $2.7 billion acquisition of Neiman...
- In a Wednesday filing with the court, Amazon's legal team stated their equity investment is "now presumptively worthless." They allege Saks "burned through hundreds of millions of dollars...
- Saks Global filed for Chapter 11 bankruptcy protection on January 14, 2026.
Amazon Challenges Saks’ Bankruptcy Plan, Cites $475 Million investment at Risk
Amazon is seeking to block Saks Global’s bankruptcy financing plan, arguing the department store rapidly depleted funds and violated their agreement following a $2.7 billion acquisition of Neiman Marcus in December 2024. The e-commerce giant invested $475 million in the venture with the expectation Saks would sell products on Amazon’s platform and utilize its technology and logistics support.
In a Wednesday filing with the court, Amazon’s legal team stated their equity investment is “now presumptively worthless.” They allege Saks “burned through hundreds of millions of dollars in less than a year.”
Saks Global filed for Chapter 11 bankruptcy protection on January 14, 2026. Read more about the bankruptcy filing here.
Amazon’s concerns center on the potential loss of their $475 million investment and the failure of Saks to fulfill its commitments. Watch a report on how Saks reached this point.
The acquisition of Neiman Marcus by Saks is detailed in this CNBC report.
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