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Story summary
- Saks Global is in bankruptcy proceedings as secured and unsecured creditors file claims.
- Saks Global seeks to exit its partnership with Amazon, which invested $475 million and now calls the investment worthless.
- Amazon opposes Saks' $1.75 billion debtor-in-possession loan and urges selling the flagship store to settle debts.
- Vendors are hesitant to ship merchandise due to non-payment fears.
