1 “Leila Meyer’s New York Tribune Account”, Titanic Archive, 19 April 1912
2 “Titanic Marconigrams: Leila Meyer Saks”, RR Auction
3 “The doctor, the heiress and the accidental nanny: New York women who survived the Titanic”, The Bowery Boys, 15 April 2022
4 Gene Smiley, “The U.S. Economy in the 1920s”, EH.net Encyclopedia, Economic History Association
5 “Roaring Twenties: Flappers, Prohibition & Jazz Age”, History.com Editors, 14 April 2010, updated
6 “Business, America in the 1920s”, National Humanities Center, America in Class
7 “Millionaire’s Row Mansions of Fifth Avenue”, Untapped New York
8 “History”, FifthAvenue.nyc
9 “The History of Saks: A Picture of Luxury”, WWD, 30 July 2013
10 “Saks Fifth Avenue”, Vintage Fashion Guild, Label Resource
11 “The History of Saks”, WWD, 30 July 2013
12 “Richard Baker’s mastery of real estate deals wasn’t enough to save Hudson’s Bay”, The Globe and Mail, 18 March 2025
13 “Hudson’s Bay’s Downfall: Why Richard Baker Failed”, Mark Cohen interview, The Robin Report, 21 March 2025
14 “Hudson's Bay's Downfall: Why Richard Baker Failed”, The Robin Report, 21 March 2025
15 “A Requiem for the Hudson Bay Company”, The Robin Report, 17 March 2025
16 CMBS = Commercial Mortgage-Backed Securities. Bonds backed by commercial property loans, sold on to investors as securities
17 Cash Management Motion, Global Debtors, §28-29, 14 January 2026: joint venture with Simon Property Group covering 31 properties in the United States; Saks holds 62.4%; each property in a separate SPV backed by a CMBS loan (“Portfolio CMBS Loan Agreement”)
18 “Saks Global files for bankruptcy, shakes up leadership after a year of struggles”, Retail Dive, January 2026
19 Declaration of Mark S. Weinstein, Document 17, 14 January 2026: TopCo Debt of $275M (+ PIK interest, ~$310M), maturing 3 February 2026, creditors = former shareholders of Neiman Marcus
20 LARBE = Lisa And Richard Baker Enterprises LLC
21 Mark Weinstein (CRO), Declaration in Support of Chapter 11 Petitions, U.S. Bankruptcy Court, Southern District of Texas, Case 26-90103, 14 January 2026
22 Declaration of Mark S. Weinstein (CRO), Case 26-90103, Document 17, U.S. Bankruptcy Court, Southern District of Texas, 14 January 2026: 14,610 full-time employees, 2,220 part-time, 3,860 temporary staff through agencies
23 S&P Global Ratings, “Saks Global Enterprises LLC Assigned ‘CCC+’ Issuer Credit Rating On Completed Acquisition; Outlook Stable”, 29 January 2025
24 Moody’s Investors Service, “Moody’s downgrades Saks Global to Caa3, outlook negative”, 23 July 2025
25 “How Saks’ acquisition of Neiman Marcus plunged the company into bankruptcy: ‘Recipe for disaster’”, CNBC, 15 January 2026
26 Chapter 11 = the US bankruptcy procedure that lets a company keep operating while it restructures its debt.
27 ABL = Asset-Based Lending (a loan secured on assets such as inventory and receivables). FILO = First In, Last Out: a subordinated tranche of debt that agrees to be repaid last in exchange for a higher interest rate. A typical combination in financing for companies in trouble.
28 DIP = Debtor-in-Possession financing. A loan granted to a company that is already in bankruptcy so it can keep paying wages and suppliers during the restructuring. DIP lenders rank ahead of all other creditors.
29 “Saks Global’s vendor trouble hints at financial vulnerability”, Cara Salpini, Retail Dive, 24 February 2025
30 Marc Metrick (CEO, Saks Global), internal memo to suppliers, 14 February 2025
31 Liza Amlani quoted in Retail Dive, February 2025
32 “Saks Global, parent of Saks Fifth Avenue, files for Chapter 11 bankruptcy protection”, CT Insider, 15 January 2026
33 Global Debtors' Emergency Motion for Entry of Interim and Final Orders Authorizing Debtors to Pay Certain Prepetition Claims of Certain Critical Vendors, Case 26-90103, Document 14, U.S. Bankruptcy Court, Southern District of Texas, 14 January 2026, §14: $300M for Critical Vendors + $37.4M for deliveries in the last 20 days = $337.4M; $126M authorised on an emergency basis in the first 21 days
34 “A $900M Promise to Amazon and 4 Other Takeaways From the Saks Bankruptcy”, WWD, 15 January 2026
35 Debtors' Joint Emergency Motion for Entry of Order Authorizing Payment of Prepetition Claims of Lien Claimants and Customs Claimants, Case 26-90103, Document 16, U.S. Bankruptcy Court, Southern District of Texas, 14 January 2026: $91.5M owed to consignors; “Pursuant to the terms of the Consignment Agreements, the Consignors may be authorized to take and perfect liens on the merchandise and goods supplied”
36 S&P Global Market Intelligence, analysis of Saks Global quarterly results, 2025
37 Declaration of Mark S. Weinstein, Document 17, §88, 14 January 2026: “Concession business comps have ranged from +2% to +18% YoY each month in 2025”
38 “How Saks’ acquisition of Neiman Marcus plunged the company into bankruptcy”, CNBC, 15 January 2026
39 “In Its Bankrupt State, What Saks Global Must Do Now”, WWD, 16 January 2026
40 “Case Summary: Saks Global Chapter 11”, Bondoro (financial analysis platform), January 2026
41 Chief Restructuring Officer, the executive appointed to steer a restructuring or a bankruptcy
42 Saks Global Enterprises LLC v. Heat Media, Inc., d/b/a Puck, Superior Court of Delaware, Case No. N25C-10-070 MAH, filed 7 October 2025
43 S&P Global Ratings, “The 2025 global corporate default tally stands at 108”, August 2025
44 “Chanel, Kering Top Luxury Who’s Who of Saks Global Unsecured Creditors”, Reuters, 14 January 2026
45 “What Saks Global’s bankruptcy means for vendors”, Retail Dive, 20 January 2026
46 “Death of a dream: Saks’ crisis exposes luxury department store woes”, Gregory Meyer, Elizabeth Paton & Adrienne Klasa, Financial Times, 17 January 2026
47 “Ssense lenders push for liquidation over buyout”, Bloomberg News, January 2026
48 Suzanne Kapner & Becky Yerak, “After Saks’s Collapse, a Bitter Rift With Amazon”, Wall Street Journal, 16 January 2026
49 “Amazon Labels Its $475M Saks Global Investment ‘Worthless’ as Bankruptcy Battle Escalates”, Pavneet Kaur, 20 January 2026
50 Amazon’s Objection to the Debtors’ DIP Motion and Reservation of Rights, Case 26-90103 (ARP), U.S. Bankruptcy Court for the Southern District of Texas, January 2026
51 PropCo/HoldCo: a structure that separates the property assets (PropCo = Property Company) from the retail operations. The HoldCo (Holding Company) owns the shares of the PropCo. The idea is to ring-fence the real estate to protect it from operational risks
52 A technique in which a lender turns old (pre-bankruptcy) debt into new (post-bankruptcy) debt. The advantage: it jumps ahead of everyone else in the creditors’ queue.
53 “Amazon Loses First Attempt to Block Saks Bankruptcy Funding”, Bloomberg, 15 January 2026
54 Declaration of Mark S. Weinstein, Document 17, §47, 14 January 2026: automatic conversion of ABG’s preferred equity into additional shares in ALG (the JV holding the Saks/Neiman/Bergdorf brands) in the event of bankruptcy
55 “Saks divisive debt reshuffle shows a retail sector under strain”, Sujeet Indap, Financial Times, 1 July 2025
56 “Leveraged luxury: fall of Saks Global to scorch US business stars”, Eric Platt & Sujeet Indap, Financial Times, 11 January 2026
57 “Leveraged luxury: fall of Saks Global to scorch US business stars”, Financial Times, 11 January 2026
58 “Saks divisive debt reshuffle shows a retail sector under strain”, Financial Times, 1 July 2025
59 Put option. A contract that gives the right (but not the obligation) to sell an asset at a price set in advance. Here, Axonic had the right to sell its bonds back to Saks at a guaranteed price
60 Saks Global, “Saks Global Announces CEO Transition”, press release, 2 January 2026
61 “Saks Global CEO Richard Baker set to exit”, Bloomberg News, 13 January 2026
62 “Saks Global CEO Richard Baker Set to Exit, Bloomberg News Reports”, Reuters, 13 January 2026
63 Declaration of Mark S. Weinstein, Document 17, note 9, 14 January 2026: sale of Neiman’s minority stake in Fashionphile in December 2025
64 Full list of the 26 rejected leases: East Coast: Scarsdale, Paramus, Westfield, Bridgewater, Wayne, Livingston, Lawrenceville, Huntington Station, Bay Shore, West Nyack, Syracuse, Buffalo, White Plains. New England: Burlington, Farmington, Danbury. Midwest: Schaumburg (Woodfield Mall), Novi (Twelve Oaks). Pennsylvania: King of Prussia. Maryland: Columbia. California: San Francisco.
65 First Omnibus Order, Document 32-1, Schedule 1, 14 January 2026: rejection of the 384 Post Street lease, San Francisco (Union Square), original lease dated 1991