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Saks Settles Fight With Simon Property, Cuts Deal With Creditors

The company also won court approval for a financing package to raise as much as $500 million from investors.
Much of Saks' bankruptcy financing will be earmarked for vendors, whose merchandise are designated a necessary expense if Saks is to remain a going concern.
Saks must still win court approval for a reorganisation plan that would slash its roughly $3.4 billion debt load. (Shutterstock)

Bankrupt luxury retailer

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