Saks Global, century-old high-end department store chain, files for bankruptcy
The venerable retailer is seeking protection from its creditors after its $2.65 billion purchase of Nieman Marcus failed to spark growth.
Watch CBS News
The venerable retailer is seeking protection from its creditors after its $2.65 billion purchase of Nieman Marcus failed to spark growth.
More than 8,000 stores closed across the U.S. this year, according to retail industry data, including these well-known brands.
Residents of Leland House in Detroit will not have to move out of their homes thanks to an agreement reached with DTE.
Standing on the Woodward Avenue site are a gleaming 45-story tower and a 12-story office building. The new 1.5 million-square-foot Hudson's Detroit development also contains retail space and will feature high-end condos.
Spirit Airlines again filed for bankruptcy protection from its debts only months after emerging from Chapter 11.
Accessories retailer Claire's just revealed a list of hundreds of stores it will close as part of its Chapter 11 bankruptcy proceedings.
Del Monte Foods, producer of canned fruits and vegetables, initiatied Chapter 11 proceedings on Monday and is seeking a buyer.
As part of the bankruptcy proceedings, 26 At Home stores across the United States will close.
Regeneron, a biotech company, will acquire 23andMe for $256 million and vowed to comply with the genetic testing company's privacy policies.
Weight Watchers, a weight loss program with a history of over 60 years, has entered the Chapter 11 bankruptcy process. WW says services for members will continue.
Record consumer debt, years of steep inflation and other factors are driving more Americans to considering filing for bankruptcy.
Fabric and crafts retailer Joann is closing all of its remaining stores after failing to find a buyer that would keep them open.
Fabric and crafts retailer Joann Fabrics filed for a second bankruptcy this week, announcing the closure of nearly 500 stores nationwide.
Fabric and crafts retailer Joann has announced it will be closing approximately 500 stores nationwide, almost a year after filing for bankruptcy.
Big Lots has reached a deal that will keep hundreds of its stores open after filing for bankruptcy protection earlier this year.
The Container Store said it is filing for bankruptcy protection after years of losses and declining sales.
Party City informed employees in an email on Friday that it was conducting an immediate "mass layoff" at its headquarters.
Pontiac General Hospital has filed for bankruptcy days after announcing the loss of Medicare funding and announcing over 240 layoffs.
TGI Fridays Executive Chairman Rohit Manocha said "COVID-19 and capital structure" were the primary drivers of the chain's financial challenges.
Big Lots files for Chapter 11 protection after years of declining sales and hundreds of store closures.
Giuliani himself asked for the dismissal, after months of missing court deadlines in his bankruptcy case.
Red Lobster's owner has said the pandemic and rising costs hurt the seafood chain's financial performance.
It's a financial comeback a decade in the making; Detroit's credit rating is now back to what it was before the city went broke and couldn't pay its bills.
The retailer that caters to quilters and crafters also said it has been weighed down by higher tariffs from China.
Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy.
Police in Taylor are asking for the public's help in identifying a suspect in a purse theft.
Authorities are investigating a fire that killed two people and their dogs Thursday morning in Genesee County's Fenton Township.
Novartis has settled a suit by Henrietta Lacks' estate alleging the pharmaceutical giant unjustly profited off cells were taken from her tumor without her knowledge in 1951.
Pakistan bombed major Afghan cities and declared "open war" after Afghanistan's Taliban rulers claimed an unprecedented aerial attack on Islamabad.
The Defense Department on Wednesday shot down a U.S. Customs and Border Protection drone in southwest Texas, federal officials confirmed to CBS News.
Three Huron Township Police Department officers were injured in a pursuit that ran along the service drive at Carleton Farms Landfill.
No charges have been filed against Arnold, who was a 2024 first-round NFL draft pick.
For the first time in 15 years, Stellantis is not issuing a profit-sharing distribution to UAW-represented employees.
Police in Taylor are asking for the public's help in identifying a suspect in a purse theft.
Cindy Kinney resigned from the Wyandotte Public Schools Board of Education amid controversy over a "dogs or Muslims" social media post.
For the first time in 15 years, Stellantis is not issuing a profit-sharing distribution to UAW-represented employees.
Union Vice President Laura Dickerson confirmed that the worker, TJ Sabula, "has no discipline on his record."
Some General Motors employees are taken aback by this year's profit-sharing checks, with it being $4,000 less than the previous one.
While many assume a "harsh" winter, or this bone-chilling, sustained cold, is the enemy of asphalt, the real culprit is temperature fluctuation.
In Metro Detroit, drivers are paying about $2.90 per gallon, which is 2 cents less than last week and 29 cents less than at the same time last year.
The Rock & Roll Hall of Fame has announced its 2026 list of nominees, including Phil Collins, Mariah Carey, Wu-Tang Clan and more.
Barry Manilow announced Friday he needs to reschedule several more concerts as he continues to recover following surgery after he was diagnosed with lung cancer.
"Jersey Shore" star Nicole "Snooki" Polizzi said in a TikTok video that her results at a post-op appointment for a cone biopsy showed stage 1 cervical cancer.
In April 2025, Eric Dane announced he had been diagnosed with amyotrophic lateral sclerosis, or ALS.
Warner Bros. Discovery said that Paramount Skydance is considering enhancing its buyout offer for the entertainment company.
Novartis has settled a suit by Henrietta Lacks' estate alleging the pharmaceutical giant unjustly profited off cells were taken from her tumor without her knowledge in 1951.
The Defense Department on Wednesday shot down a U.S. Customs and Border Protection drone in southwest Texas, federal officials confirmed to CBS News.
FedEx said it will reimburse customers if the Trump administration provides refunds following a Supreme Court ruling that struck down emergency tariffs.
Ford said a tech glitch can increase the risk of a crash for vehicles towing a trailer. Here's what to look for.
Starting next week, parents will get an alert if their teen repeatedly searches for certain terms related to self-harm or suicide in a short time span.
Michigan lawmakers required schools to adopt a cardiac emergency response plan for the current school year if the Legislature appropriated "sufficient funds," but funding wasn't dedicated in the education budget.
What started as food poisoning for a young boy in Clinton Township turned into years of organ failure.
Officials announced eligibility for mothers and babies in the city of Detroit.
Two Metro Detroit representatives are among those sponsoring a bill that calls for a 32% tax on any wireless device purchased for someone age 17 and younger.
The Oakland Community Health Network will now be taking over that responsibility amidst a financial dispute between the two organizations.
No charges have been filed against Arnold, who was a 2024 first-round NFL draft pick.
The Detroit Pistons faced a shell of the defending champion Oklahoma City Thunder on Wednesday night in a possible NBA Finals preview.
Justin Verlander and Framber Valdez will receive the final payments from their new contracts with the Detroit Tigers in 2039, with the team deferring $31 million of the $128 million it committed to the pitchers.
Detroit Lions offensive tackle Taylor Decker has decided to return for an 11th season.
Elliot Cadeau had 15 points and L.J. Cason scored 11 of his 14 points in the second half as No. 3 Michigan beat Minnesota 77-67 on Tuesday night to clinch at least a share of the Big Ten title for the first time in five years.
Penske, a business and racing legend, turns 89 on Feb. 20 and is celebrating his 60th year in racing during 2026.
Claressa Shields talks about giving back to the community and her efforts to increase equity for women in sports.
The roundtable discusses the impact of the high-profile game for advertisers, including Detroit-based Rocket and Redfin.
Could a new entertainment tax and a new sales tax be ahead for the Motor City?
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
New ramp closures are set to begin at I-696/I-75. Former vice president Kamala Harris will speak in Detroit. Those headlines, other top stories and weather are in our news brief.
Former President Bill Clinton will appear before the House Oversight Committee in New York on Friday as part of its investigation into convicted sex offender Jeffrey Epstein. CBS News has this report.
The owners of Hunter House Hamburgers in Birmingham have sued the business that opened in its former location.
Former vice president and 2024 presidential candidate Kamala Harris will speak Friday night at The Fillmore in Detroit as part of her "107 Days" book tour.
Romulus Mayor Robert A. McCraight says he continues to voice community opposition to state and federal officials over the Immigration and Customs Enforcement agency's plans to operate a facility in his Metro Detroit city.