Saks Global has announced a second round of store closures, shuttering 12 Saks Fifth Avenue and three Neiman Marcus locations as part of its bankruptcy reorganization. Following nine closures in February, the company now operates 13 Saks Fifth Avenue and 32 Neiman Marcus stores; two Bergdorf Goodman locations in New York are unaffected. Saks filed for bankruptcy with $3.4 billion in debt, one year after a $2.6 billion merger created the group. It has since resolved disputes with over 500 vendors — including Chanel and LVMH — with brands contributing nearly $1.3 billion in revenue. A U.S. bankruptcy court approved $1 billion in financing on February 20.

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