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Amazon opposes Saks' bankruptcy plan, accusing it of violating e-commerce agreement

Amazon opposes Saks' bankruptcy plan, accusing it of violating e-commerce agreement

格隆汇格隆汇2026/01/15 13:50
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By:格隆汇
Sina Finance January 15|Luxury retailer Saks Global Enterprises has filed for bankruptcy protection, facing strong opposition from Amazon. In court documents filed on Wednesday, Amazon accused the bankrupt company of violating their agreement regarding the sale of Saks products on the Amazon platform and stated directly that Amazon’s equity investment in Saks is now presumed to have no value. In 2024, Amazon acquired a minority stake in Saks as part of a $2.65 billion deal to assist Saks in its planned acquisition of Neiman Marcus. In return, Saks committed to pay Amazon at least $900 million over eight years. However, in its filings, Amazon alleged that Saks consistently failed to meet budget targets, squandered hundreds of millions of dollars in less than a year, and owed hundreds of millions in unpaid bills to retail partners.
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