Saks Files For Bankruptcy: Inside The Missteps That Brought A Luxury Giant To Its Knees
On a chilly January morning in midtown Manhattan, tourists lingered over rows of designer handbags at Saks Fifth Avenue’s flagship store. Balenciaga, Burberry and other luxury labels still gleamed behind glass, but behind the polished displays, trouble was brewing. Penelope Nam-Stephen, a longtime customer who splits her time between New York and Boston, approached the…