Chanel, Kering and LVMH Owed $225 Million by Bankrupt Saks

Saks Global Enterprises’ delayed payments to luxury brands played a key role in accelerating the retailer’s decline and pushing it into bankruptcy.

Brands pulled back on shipments or canceled orders during the past year or so, leaving Saks’ stores looking less than luxurious. Now, court documents from its Chapter 11 filing just after midnight on Wednesday give greater insight into why brands were so wary: Some are owed tens of millions of dollars.