Saks Creditors Shut Out of Majority Group Organize as Bond Sinks

Creditors holding about $600 million of Saks Global Enterprises’ $2.2 billion bond gathered on a call Thursday with law firm Glenn Agre Bergman & Fuentes to weigh potential strategies, according to people with knowledge of the situation, as the retailer’s debt slumped to a record low.

• The meeting comes after Saks recently tapped Kirkland & Ellis and PJT Partners to help it explore ways to raise new financing, while a majority group of creditors organized with Lazard and Paul Weiss Rifkind Wharton & Garrison
  • READ: Saks Creditors Form Majority Group Ahead of Potential Debt Talks
• The minority group is ...