Saks Fifth Avenue, one of the most iconic names in American luxury retail, is facing a possible Chapter 11 bankruptcy as mounting debt and missed payments pressure the company’s future. Saks Global Enterprises is reportedly seeking up to $1 billion in emergency financing after failing to make a $100 million interest payment due in late December. The crisis comes after Saks’ acquisition of Neiman Marcus, which sharply increased its debt load just as the luxury retail market slowed. Industry exper