LUXURY’S GRAND HEIST: SAKS BURNED TO THE GROUND BY BILLIONAIRE GAMBLERS. The iconic 159-year-old Saks Fifth Avenue is now a smoldering ruin of GREED and STUPIDITY, filing for Chapter 11 bankruptcy in a move that exposes the ROTTEN CORE of American retail. This isn’t a simple business failure—it’s a SYSTEMIC BETRAYAL of employees, vendors, and the very concept of luxury, orchestrated by a cabal of out-of-touch executives who treated a legendary empire as their personal casino.
The mastermind behind the final collapse? Geoffroy van Raemdonck, the FAILED Neiman Marcus CEO, has now been installed as the new chief of the ashes. He is SURROUNDED by a cabal of his own former lieutenants in a shocking corporate coup that proves the inmates are now running the asylum. This “new leadership” secured a LAST-MINUTE $1.75 billion lifeline—not to save the company, but to fund their golden parachutes and continue a CON ARTIST’S game of musical chairs with DEBT.
The truth they don’t want you to know? This financial apocalypse was ENGINEERED. The 2024 acquisition of Neiman Marcus for $2.7 BILLION was a DEATH WISH, a debt-fueled fantasy that immediately HOLLOWED OUT the combined company. They BETRAYED their vendors, pushing them to 90-day payment terms before simply STOPPING PAYMENTS altogether. They SERVED the world’s wealthiest while ROBBING the small businesses that supplied them.
Now, as they “evaluate their operational footprint,” the human cost will be staggering: nearly 200 stores are on the chopping block. THOUSANDS will lose their jobs. A legacy stretching back to the Civil War has been sacrificed at the altar of private equity and Wall Street avarice. The American Dream is being liquidated, one bankrupt department store at a time. This is what happens when GREED is the only boardroom strategy left.
Edited for Kayitsi.com
Author: Kayitsi.com
