Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, has officially emerged from Chapter 11 bankruptcy with a new name, reduced debt, and a streamlined retail footprint. The company revealed on Friday that it will now be known as Exemplar Luxury Group, reflecting a renewed focus on delivering a premium shopping experience.

The company reported a nearly 75% reduction in debt and secured an additional $500 million in financing as part of its restructuring efforts. Geoffroy van Raemdonck, CEO of the New York-based firm, described the emergence as the start of a "brand new day" for the three iconic luxury brands. He emphasized the company’s commitment to offering superior merchandise and personalized customer service, leveraging data insights and the expertise of its sales associates. Van Raemdonck noted that more than 1,500 sales staff have each generated over $1 million in sales.

Saks Global filed for bankruptcy protection in January 2026, following challenges posed by increased competition and significant debt incurred during its July 2024 acquisition of Neiman Marcus. Prior to filing, the company operated 33 Saks Fifth Avenue stores, 36 Neiman Marcus locations, one Bergdorf Goodman store on Fifth Avenue, and approximately 70 Saks Off 5th discount outlets.

Under the restructuring plan, the company has consolidated its stores to a total of 49. This includes 15 Saks Fifth Avenue stores, 33 Neiman Marcus stores, the Bergdorf Goodman boutique, and 12 Saks Off 5th discount outlets. The reduction reflects a strategic shift toward a more focused portfolio aimed at serving affluent customers more effectively.

Exemplar Luxury Group collaborated closely with investment firms Pentwater Capital Management and Bracebridge Capital during its Chapter 11 process. Both firms will hold two seats each on the newly formed seven-member board of directors, signaling their significant role in guiding the company’s future operations.