Australian fashion label Camilla is the latest fashion brand globally to claim money owed in the recent collapse of American department store group Saks Global.
This week, Camilla lodged several claims, all amounting to US$2.8 million, or just under $4 million in AUD. This according to listed court documents. Four of the claims are listed under the brand’s local operation, Camilla Australia Pty Ltd, with four more claims listed under its Delaware-based operation, Camilla Corporation.
The largest claim is from Camilla’s Australian arm, claiming Saks owes it $760,603.10.
Saks Global – which manages Saks 5th Avenue, Neiman Marcus and Bergdorf Goodman – filed for Chapter 11 Bankruptcy in the United States last month, with Ragtrader confirming that 44 Australian brands had been stocking the department store.
Since its collapse, current claims stretch into the billions of dollars from hundreds of creditors globally. Australian-born brands Maison de Sabre, Rebecca Vallance and the US-arm of Australian owned brand Naked Wolfe have already submitted claims, with more brands expected to lodge in the coming days and weeks.
Maison de Sabre is reportedly owed US$550,731.02 and Rebecca Vallance has made a claim for US$174,479. Naked Wolfe, meanwhile, claims it is owed US$292,297.10.
Ragtrader research has also uncovered that designer label Alemais has submitted claims for just over US$1 million, while Aje has submitted a claim for just US$138,200. The Australian Financial Review recently spoke with Aje co-founder Adrian Norris, who said the brand did not dispatch its last order to Saks, and had stopped supplying the retailer with goods some time ago as it was not getting paid.
Other notable Australian fashion labels that have been selling through Saks’ department stores include Zimmermann, Scanlan Theodore, Bec & Bridge, SIR., Acler, and Ksubi, alongside a long tail of emerging and contemporary brands.
Ragtrader has reached out to a few brands for comment.
Court documents also note that Saks Global has been trading through the restructuring process and will pay for goods shipped after the filing. Recent news reports indicate the company is set to shutter nine stores.
Suppliers with outstanding invoices issued before the Chapter 11 filing now sit behind secured lenders and financiers in the repayment queue, with no certainty on how much they will ultimately recover.
Court filings from the Texas bankruptcy proceedings show that the retailer’s largest unsecured creditors include some of the most powerful groups in global luxury.
Chanel Limited is owed just over $136 million, while Kering, owner of Gucci and Balenciaga, is due around $60 million. Capri Holdings, which owns Michael Kors and Jimmy Choo, is owed $33.3 million, and Mayhoola, the majority owner of Valentino, is due $33.2 million. Richemont, owner of Cartier, is owed about $30 million, with Zegna and LVMH each owed roughly $26 million. Christian Louboutin is due around $21.5 million, Estée Lauder about $16 million, David Yurman $11.4 million and Giorgio Armani $10.7 million, with Burberry and Dolce & Gabbana each owed just under $10 million.
The creditor list also includes major technology companies, reflecting Saks Global’s reliance on digital infrastructure and advertising, with Meta Platforms owed about $12 million and Google around $9.6 million.