Finance
Burberry CEO says 'confident' in bankrupt Saks Global's leadership
Published by Global Banking and Finance Review
Posted on January 21, 2026
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 21, 2026
2 min readLast updated: January 21, 2026
Burberry CEO Joshua Schulman expresses confidence in Saks Global's new leadership despite their recent bankruptcy filing, emphasizing Saks' importance as a customer.
Jan 21 (Reuters) - Burberry CEO Joshua Schulman said on Wednesday that the luxury brand was confident in the new leadership at Saks Global, but declined to comment on the British group's exposure to the high-end department store conglomerate's collapse.
"I am not going to comment specifically on our exposure as part of (Saks Global's) restructuring, but I would say it is early days with the new leadership team and we are confident in the leadership," Schulman told analysts on a post-results call.
Burberry is listed as an unsecured creditor at Saks Global, which filed for bankruptcy protection last week in one of the largest retail collapses since the pandemic.
The bankruptcy comes barely a year after Saks Global agreed to a deal intended to create a luxury powerhouse bringing Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof.
"Saks Global is a very important customer of ours, but we also have other important customers in the market," Schulman said, adding that he was confident the new management will be able to restore the retail chain to its "rightful place in the luxury landscape."
(Reporting by Pushkala Aripaka in Bengaluru and Helen Reid in London; Editing by Mrigank Dhaniwala and Shinjini Ganguli)
Bankruptcy is a legal process through which individuals or businesses that cannot repay their debts can seek relief from some or all of their liabilities.
A luxury brand is a brand that offers premium products or services, often associated with high quality, exclusivity, and prestige.
Retail trade refers to the sale of goods and services to consumers for personal use, typically through stores or online platforms.
Corporate restructuring is the process of reorganizing a company's structure, operations, or finances to improve efficiency and adapt to market changes.
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