Saks Global Shuts 57 Off 5th Stores Under Geoffroy van Raemdonck in USA

Saks Global is closing 57 Saks Off 5th locations and five Last Call centers after securing 1.75 billion dollars in financing to navigate its Chapter 11 bankruptcy.Geoffroy van Raemdonck appointed Lana Todorovich to manage brand partnerships as the company aims to exit restructuring by June.Retail volatility continues as Eddie Bauer prepares for bankruptcy in USA while high jewelry brands like Boucheron report growth despite record gold prices.