With reference to the news ‘Saks Fifth Avenue preparing to file for bankruptcy’ that was published on our website on 30 April 2020, we hereby notify for general information that the news of the retailer planning to file for bankruptcy was based on various news published in western media, which has been brought to our knowledge as misinterpreted and false.

The news, henceforth, has been removed from the website. Readers may note that the information was factually incorrect. There was no intention to tarnish the image of the brand and we regret the inconvenience caused to Saks Fifth Avenue.