Saks Global — the parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman — has filed for Chapter 11 bankruptcy. Stores will remain open as the luxury retail giant has reportedly secured $1.75 billion in financing.
Yahoo Finance Senior Reporter Brooke DiPalma and B. Riley Wealth chief market strategist Art Hogan react to this news and what it signals for other sectors of the retail industry.
To watch more expert insights and analysis on the latest market action, check out more Opening Bid here: https://finance.yahoo.com/videos/series/opening-bid/
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