Amazon accuses Saks of burning millions, warns tougher action ahead
Amazon is fiercely opposing Saks Global's bankruptcy financing plan, warning of severe actions. Having invested $475 million, Amazon now deems its stake worthless due to Saks' financial mismanagement. The e-commerce giant argues the proposed financing will further jeopardize its recovery, potentially leading to drastic measures like appointing a trustee.
Amazon is fiercely opposing Saks Global's bankruptcy financing plan, warning of severe actions. Having invested $475 million, Amazon now deems its stake worthless due to Saks' financial mismanagement. The e-commerce giant argues the proposed financing will further jeopardize its recovery, potentially leading to drastic measures like appointing a trustee.
