Saks Global Enterprises, facing limited options ahead of a more than $100 million debt payment due at the end of this month, is considering Chapter 11 bankruptcy as a last resort, according to people with knowledge of the situation.
The company is also weighing additional ways to shore up liquidity, including raising emergency financing or selling assets, the people said, asking not to be identified because they’re not authorised to speak publicly. Separately, some Saks lenders have held confidential talks in recent days to assess the company’s cash needs, according to other people familiar with the matter. Those discussions have focused on a potential debtor-in-possession loan, a form of bankruptcy funding.
Saks raised billions of…