NEW YORK: Luxury retailer Saks Global emerged from Chapter 11 bankruptcy after nearly five months, with less than half of its previous stores and a quarter of its debt.

The company, home to three of America’s most iconic retail brands – Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman – will operate under the name Exemplar Luxury Group (ELG) and will focus on luxury retail, it said in a statement.