Saks Global, the parent company of prestigious retailers like Saks Fifth Avenue, Bergdorf Goodman, and Neiman Marcus, filed for bankruptcy protection on Wednesday (January 14), marking one of the largest retail collapses since the pandemic.

Neiman Marcus Group, the 113-year-old chain known for its high-end department stores, filed for bankruptcy on Thursday, making it the second major retailer to do so during the coronavirus pandemic.