The fashion world woke up to the news of Saks Global officially filing for Chapter 11 bankruptcy on Wednesday morning, confirming many industry experts’ recent predictions. The writing was on the wall for the retail conglomerate as reports of its outstanding debts (exacerbated by its Neiman Marcus acquisition last year) have swirled throughout the industry for months now.Emerging small businesses were especially hit hard by Saks’ missed vendor payments, as many rely on the company’s major wholesale orders. But it’s not just the smaller labels that are hurting: Saks owes billions of dollars to major fashion conglomerates, according to its Chapter 11 bankruptcy filing. Saks estimates its number of creditors between 10,001 and 25,000, and lists its estimated liabilities between $1,000,000,001 and $10 billion. The company was also required to file a list of 30 creditors with the largest unpaid debts.Chanel tops the list of Saks’ creditors, with an unsecured claim exceeding $136 million. Luxury conglomerate Kering is at number two with nearly $60 million in unpaid claims, followed by Capri Holdings — home to Michael Kors and Jimmy Choo — which is owed $33 million. At number nine, LVMH is owed approximately $26 million for its powerhouse brands including Louis Vuitton, Dior, Givenchy and Loewe.Ahead, see the full list of Saks Global’s 30 biggest outstanding debts (still just a small portion of the many vendors to which it owes money) to some of fashion’s biggest players, listed from most to least owed.1. Chanel ($136,035,123.02)2. Kering S.A. ($59,930,064.75)3. Rosen-X ($41,444,526.20)4. Capri Holdings Limited ($33,335,392.74)5. Mayhoola LLC ($33,212,828.28)6. PwC ($30,879,228.11)7. Compagnie Financière Richemont SA ($30,080,952.94)8. Ermenegildo Zegna N.V. ($26,316,643.99)9. LVMH Moët Hennessy Louis Vuitton SE ($25,986,874.61)10. Akris Inc. ($23,113,721.34)11. Beiersdorf AG ($22,207,231.80)12. Fine Fragrances Distribution LLC ($21,615,292.31)13. Christian Louboutin ($21,584,132.19)14. Brunello Cucinelli S.P.A. ($21,287,321.37)15. Europerfumes ($17,337,434.37)16. G-III Apparel Group, Ltd. ($16,723,668.94)17. The Estée Lauder Companies Inc ($15,960,514.40)18. Puig Brands S.A. ($12,061,246.18)19. Meta Platforms, Inc. ($11,986,081.24)20. David Yurman, Inc. ($11,494,393.96)21. B.H. Multi Com Corp. ($11,227,389.48)22. S Rothschild and Company ($10,837,928.77)23. Giorgio Armani S.P.A. ($10,790,038.36)24. Roberto Coin S.P.A. ($9,762,646.55)25. Google LLC ($9,644,781.46)26. Sisley ($9,569,927.58)27. Burberry Group plc ($9,531,339.40)28. Centric Brands LLC ($9,468,135.97)29. Dolce & Gabbana S.r.l ($9,192,073.27)30. Vince Holding Corp. ($9,084,332.04)Fashionista’s audience includes 1 million site visitors, 110,000 newsletter subscribers and 4.74 million social media followers. Want to know how to reach them? Learn more.
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