Saks Global Emerges From Bankruptcy as Exemplar Luxury Group

Saks Global officially exited bankruptcy on June 26 and subsequently changed its name to Exemplar Luxury Group (ELG). The parent of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman said it exits bankruptcy proceedings with a “substantially strengthened balance sheet, including a nearly 75 percent debt reduction, sufficient liquidity and the full backing of its capital partners and other key stakeholders.”