Saks Global Enterprises LLC is seeking bankruptcy court permission to hand out as much as $5.2 million in bonuses to its top executives.
The company, which includes Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman stores, is seeking court approval to award eight executives additional pay if they meet specific goals during the luxury department store enterprise’s restructuring, according to a motion it filed Wednesday in the US Bankruptcy Court for the Southern District of Texas.
The proposal comes as Saks Global announced plans to exit bankruptcy this summer with the help of a $500 million financing package.
The bonuses ...
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