New Delhi, Jan. 14 -- Saks Global has become the latest victim of competition, as the retail giant filed for bankruptcy late on Tuesday, adding to a long list of major retail collapses in the United States over the past decade.

In the past few years, many traditional high-profile retail companies have lost the battle with from big-box and online retailers, as they saw cut-throat competition from these new firms.

(This is a developing story. Check back for updates)

Published by HT Digital Content Services with permission from MINT....