Saks Fifth Avenue just filed for bankruptcy, and it’s not just the little guys feeling the pinch—Chanel is owed a jaw-dropping $136 million! If you’re a fan of luxury shopping, expect fewer perks and maybe less selection as brands tighten their belts. Some smaller designers are even cutting bonuses or laying off staff. Saks is hoping to bounce back under new leadership, but for now, it’s a tough runway for fashion’s biggest names. #Business #EntrepreneurshipStartup #SaksFifthAvenue