Bankruptcy: Adwoa Beauty Faces Liquidation, Saks Global Plans Turnaround
Adwoa Beauty faces liquidation after a US judge ruled to convert its Chapter 11 bankruptcy protection into Chapter 7 on October 2025. Meanwhile, Saks Global, which filed for Chapter 11 in January 2026, aims for a significant turnaround.
Saks Global plans to exit bankruptcy with nearly $700 million in liquidity. The company anticipates achieving $9 billion in total gross merchandise value by fiscal year 2030. However, it expects to report a net loss of $135 million for fiscal year 2026.
The restructuring efforts at Saks have already led to a workforce reduction of 16% among corporate staff. Geoffroy van Raemdonck, CEO of Saks Global, expressed optimism about their future: “The committed capital we have secured, along with the growing momentum across our business, sets the stage for a successful future.”
In contrast, Adwoa Beauty’s journey has taken a different turn. Founded in 2017 by Julian Addo, the brand gained traction through partnerships with retailers such as Sephora, Cult Beauty, and Amazon. However, the recent ruling marks a significant setback.
Raemdonck also noted that today’s ruling demonstrates their continued momentum toward emergence this summer with a strong foundation for long-term growth.
The luxury retail sector is closely watching these developments. As brands navigate financial challenges and restructuring processes, the outcomes could reshape market dynamics significantly.
While Saks aims for recovery and growth, observers remain concerned about the implications for Adwoa Beauty and other brands facing similar struggles in this competitive landscape.
