Saks Fifth Avenue rocked by dramatic shakeup after 31 years as bankruptcy whispers grow
Saks Fifth Avenue is facing a major company shakeup for the first time in over three decades. The change comes as rumors swirl that the luxury department store is on the verge of bankruptcy after it missed a major debt payment.
Saks CEO Marc Metrick announced Friday that he would be stepping down from the position amid the intensifying bankruptcy rumors.
Metrick announced he would be passing the torch to Richard Baker, the company’s current executive chairman.
Metrick has chosen to le...
Saks CEO Marc Metrick announced Friday that he would be stepping down from the position amid the intensifying bankruptcy rumors.
Metrick announced he would be passing the torch to Richard Baker, the company’s current executive chairman.
Metrick has chosen to le...