Amazon is very unhappy with luxury brand SAKs; blames it for 'burning hundreds of millions of dollars in less than a year'; warns ...
TIMESOFINDIA.COM / Jan 20, 2026, 07:43 (IST)
Amazon is fiercely opposing SAKs Global's bankruptcy financing plan, warning of severe actions. Having invested $475 million, Amazon now deems its stake worthless due to SAKs' financial mismanagement. The e-commerce giant argues the proposed financing will further jeopardize its recovery, potentially leading to drastic measures like appointing a trustee.