Saks Global obtains court approval to liquidate Saks Off Fifth

US department store chain Saks Global has won court approval to hire a liquidator to offload the assets of its off-price ecommerce unit Saks Off Fifth.
Saks Off Fifth is independently managed and its inventory does not include any of Saks Global’s physical stores, the chain’s attorney Michael K. Riordan said in court on 23 January.
A chief restructuring officer and independent manager have been appointed to manage the process, as the online firm may owe money to its parent company,&n