Saks OFF 5th Digital to Liquidate Inventory While in Bankruptcy

The discount online arm of Saks Global Enterprises won court approval to hire a liquidator to sell its inventory separately from the rest of the luxury retailer.

The e-commerce unit, known as Saks OFF 5th Digital, is being run by independent managers and the sale of its assets does not include any merchandise of Saks Global’s brick and mortar stores, the online firm’s bankruptcy attorney Michael K. Riordan said in court Friday morning.

Saks OFF 5th digital is also exploring broader, alternative transactions, Riordan said.

Because the unit may owe money to its parent, an independent manager and chief restructuring ...