Bankruptcy: Adwoa Beauty Faces Liquidation While Saks Global Aims for Turnaround
Adwoa Beauty is facing liquidation after a US judge ruled to convert its Chapter 11 bankruptcy protection to Chapter 7. In contrast, Saks Global filed for Chapter 11 bankruptcy in January 2026 and is now aiming for a significant turnaround.
Founded in 2017 by Julian Addo, Adwoa Beauty filed for Chapter 11 bankruptcy in October 2025. The brand has gained traction in the beauty industry and is stocked in major retailers such as Sephora, Cult Beauty, and Amazon. However, the recent ruling means that its assets will be liquidated, marking a challenging moment for the company.
Saks Global, on the other hand, 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, despite forecasting a net loss of $135 million for fiscal year 2026. Geoffroy van Raemdonck, CEO of Saks Global, expressed optimism about the company’s future: “The committed capital we have secured… sets the stage for a successful future.”
The restructuring process has already led Saks Global to slash its corporate workforce by 16%, reflecting the tough realities of navigating bankruptcy in the luxury retail sector. This move aims to streamline operations as they work towards recovery.
Observers note that the contrasting fates of these two brands highlight the volatility within the beauty and luxury retail markets. While Adwoa Beauty’s liquidation signals a downturn, Saks Global’s ambitious plans suggest a potential rebound.
The next steps for both companies remain crucial. For Adwoa Beauty, liquidation means winding down operations and selling off assets. Meanwhile, Saks Global’s strategy will focus on leveraging its liquidity to stabilize and grow post-bankruptcy.
