The parent company of Saks—a 159-year-old luxury department store—has filed for Chapter 11 bankruptcy protection. The chain ran out of cash and couldn't attract investors to fund operations going forward. This move highlights broader pressures on traditional retail as consumer spending patterns shift. It's a reminder of how classical brick-and-mortar business models face headwinds in an evolving economy. For those tracking macro trends and asset allocation, legacy retail bankruptcies signal changing capital flows and shifting where wealth is being deployed—away from traditional retail infrastructure and toward digital-native platforms.