Just days ago, Bloomberg reported that Saks is seeking to negotiate a deal with creditors after skipping an interest payment totalling more than US$100 million that was due to bondholders. The company is contemplating raising emergency funds, selling assets or, as a last resort, filing Chapter 11 bankruptcy. A filing would come just months after Saks restructured its debt in June, imposing steep losses on some creditors and taking on new, senior debt in an effort to fund what it called a “transformation strategy.”