Chanel and Gucci owner tops creditor list as bankruptcy tests trade credit exposure

Reuters reported that Chanel and Gucci owner Kering are the two largest unsecured creditors, with claims of about $136 million and $60 million respectively, based on court filings. Saks Global owes about $3.4 billion to creditors, while the top 30 unsecured creditor claims total $712 million, the bankruptcy filings show. Saks Global also estimated it has between 10,001 and 25,000 creditors.