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Someone Save Saks

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Is Saks in danger of going under? From the Racked comments: "All my retail friends think that Saks is in trouble. Saks is having an absolutely crazy sale at their flagship store (when discounts are combined, it's something like 70% off) which has all the other area merchants up in arms. Friends say that Saks is trying to raise needed cash quickly—they didn't hire any holiday help this year, and are expected to start closing stores immediately after the holidays." [Racked Comments; Previously]