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Luxury retailer sees 60 stores close as company files for bankruptcy

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Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, announced the closure of the majority of its Saks Off 5th and Last Call off-price retail locations.
Only 12 of the 74 Saks Off 5th stores nationwide will remain open, primarily to sell residual inventory from the company’s luxury brands rather than new merchandise.
Store closures will commence immediately, with some markdown sales starting Saturday and others closing as early as Monday; gift cards are valid until 14 February and store credit rewards until 1 March.
This decision follows Saks Global's filing for Chapter 11 bankruptcy protection earlier this month, triggered in part by a missed $100 million interest payment related to its 2024 acquisition of Neiman Marcus.
Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman stores, along with their respective online sites, will continue to operate as normal, while SaksOff5th.com will begin winding down operations.