Saks Global Approved to Award Executive Bonuses in Bankruptcy

Saks Global Enterprises LLC won 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, can award eight executives additional pay if they meet specific goals during the luxury department store enterprise’s restructuring, according to an order filed Thursday in the US Bankruptcy Court for the Southern District of Texas.

The bonuses are meant to ensure that the senior management team members are properly incentivized and compensated during the restructuring process, the company said.

Saks Global also won approval of ...