Simon Property Group Seeks $100M in Unpaid Rent from Saks Global Amid Bankruptcy Filing.

Simon Property Group has invested $100M in Saks Global, but the luxury department store filed for bankruptcy in March 2025. Simon is seeking to terminate leases for two stores, citing unpaid rent of over $7M. Saks' attorneys dispute Simon's ability to withdraw the leases. This is not the first time Simon has invested in troubled retailers, with a history of partnering with companies like Brookfield and Authentic Brands Group. Simon has been divesting from retail in recent years and now focuses on real estate and e-commerce.