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Saks Global’s Chapter 11 filing reveals that it owes hundreds of millions to big-name brands.
Major unsecured creditors include Chanel, LVMH and Christian Louboutin, and Burberry.
Google and Meta are also among the list of unsecured creditors.
Saks Global has filed for Chapter 11 bankruptcy protection — and court filings reveal that the luxury retailer owes hundreds of millions of dollars to some of the fashion industry’s biggest names.
The question is, will they get paid?
In US bankruptcy proceedings, unsecured creditors generally stand at the end of the line for repayment, behind secured creditors and lenders.
“There will be a lot of hardship for those brands,” Gary Wassner, the CEO of Hilldun Corp., which acts as a guarantor or insurer for brands, told Business Insider about independent designers who aren’t part of a big conglomerate or use factoring firms, like Hilldun.
Saks Global, which owns Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, said in a statement on Wednesday that it expects to pay for future goods shipped as it restructures its debts.
Fashion industry experts, meanwhile, have told Business Insider that brands big and small are likely to keep doing business with Saks Global because they need the retailer and have few alternatives.
“In some cases, smaller brands, 40% or 50% of their business is done with Saks Global, so you can imagine what it’s doing to those companies,” said Wassner, whose firm represents about 140 brands that sell to Saks.
Documents filed by Saks Global in federal Texas bankruptcy court show the retailer owes its 30 largest unsecured creditors more than $700 million. Below is a breakdown of how much Saks Global owes some of its largest luxury suppliers, according to the retailer’s bankruptcy court filings.
Chanel Limited is owed just over $136 million
A model walks the runway during the Chanel show as part of the Paris Fashion Week Stephane Cardinale – Corbis/Corbis via Getty Images
Kering SA, owner of brands such as Gucci and Balenciaga, is due about $60 million
A small black Gucci leather clutch bag on display during a fashion photo session in Paris. Edward Berthelot/Getty Images
Capri Holdings Limited, owner of Jimmy Choo and Michael Kors, is owed $33.3 million
Designer Michael Kors on the runway during the Michael Kors Spring/Summer 2026 collection show. ANGELA WEISS / AFP
Mayhoola LLC, which owns 70% of Valentino, is due $33.2 million
Actress Guan Xiaotong attends a Valentino event on November 15, 2024 in Shanghai, China. VCG/VCG via Getty Images
Zegna owner Ermenegildo Zegna N.V. is owed roughly $26.3 million
Zegna is known for its menswear. John Keeble/Getty Images
LVMH, owner of Louis Vuitton, Dior, Fendi, and Marc Jacobs, is due about $26 million
A Louis Vuitton storefront in San Diego, CA. Kevin Carter/Getty Images
Cartier owner Compagnie Financière Richemont SA is owed about $30 million
Diane Batoukina wears a watch by Cartier on December 04, 2025 in Paris, France. Edward Berthelot/Getty Images
Christian Louboutin is due about $21.5 million
A pair of Christian Louboutin shoes featuring the brand’s signature red bottoms. Melissa Phillip/Houston Chronicle via Getty Images
The Estée Lauder Companies Inc. is owed roughly $16 million
A customer walks past an Estée Lauder cosmetics counter in China. Cheng Xin/Getty Images
David Yurman, Inc. is due about $11.4 million
A view of the Sculpted Cable Collection during the David Yurman event in NYC on April 25, 2024. Eugene Gologursky/Getty Images for David Yurman
Giorgio Armani SpA is owed $10.7 million
An Emporio Armani storefront in London. Peter Dazeley/Getty Images
Burberry Group plc is due about $9.5 million
Jade Thirlwall attends the Burberry show during London Fashion Week September 2024. John Phillips/Getty Images
Dolce & Gabbana Srl is owed $9.1 million
Sneakers and bags on display at a Dolce & Gabbana shop in Madrid, Spain. Cristina Arias/Getty Images
Tech giants are also owed too, with Google at $9.6 million and Meta Platforms, Inc. at about $12 million
The Google office in Pancras Square, London, England, United Kingdom, on December 26, 2025. Michael Nguyen/NurPhoto via Getty Images