Saks to buy back $652m debt

Saks, the US luxury goods group, has offered to buy back more than half of its public debt after it received a notice of default from one of its main bondholders, Highbridge Capital, a hedge fund owned by JP Morgan.

The offer extends to about $652m (€537m) worth of debt.

WSJ Logo
110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink