mlive

Luxury retailer files for bankruptcy 13 months after buying competitor for $2.7 billion

The move comes 13 months after Saks paid $2.7 billion to acquire its competitor. Since then, the chain has struggled with a reported $4.7 billion debt, according to Retail Dive. Saks has reportedly had trouble paying vendors and is having a hard time obtaining inventory.
FreightWaves

STG Logistics files Chapter 11, charts path forward

Intermodal marketing company STG Logistics announced Monday it has entered into a Chapter 11 restructuring plan.
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