Adwoa Beauty faces liquidation after a US judge ruled to convert its Chapter 11 bankruptcy protection to Chapter 7. The company filed for Chapter 11 in October 2025.
Saks Global filed for Chapter 11 bankruptcy in January 2026. The luxury retailer plans to exit bankruptcy with nearly $700 million in liquidity. Saks anticipates achieving $9 billion in total gross merchandise value by fiscal year 2030.
Saks Global expects a net loss of $135 million for fiscal year 2026. To streamline operations, the company has reduced its corporate workforce by 16%.
Geoffroy van Raemdonck, CEO of Saks Global, stated, “The committed capital we have secured, along with the growing momentum across our business, sets the stage for a successful future.” This indicates a strategic focus on recovery and growth.
Adwoa Beauty, founded in 2017 by Julian Addo, is known for its presence in major retailers such as Sephora, Cult Beauty, and Amazon. The brand’s shift to liquidation reflects ongoing challenges within the beauty industry.
Yet, Saks Global’s restructuring efforts may provide a roadmap for recovery in the competitive luxury retail sector. The company’s ability to adapt will be crucial as it navigates this transition.
