Amazon threatens ‘drastic’ action after Saks bankruptcy, says $475M stake is now worthless

• Amazon filed an objection to Saks Global’s bankruptcy financing plan on the grounds it could harm creditors and push the tech company further down the repayment pecking order.
• The tech company invested $475 million into Saks’ acquisition of Neiman Marcus, a stake it said is now effectively “worthless.”
• Amazon threatened more “drastic remedies” if Saks doesn’t heed its concerns, including the appointment of an examiner or a trustee.

Source: https://www.cnbc.com/2026/01/15/amazon-says-saks-investment-is-worthless-after-bankruptcy.html