Saks Off Fifth closes its flagship NYC store and other locations across America
Saks Off Fifth to close nine stores around the US beginning in December
- Saks Off 5th, the discount sister brand of Saks Fifth Avenue, is set to close nine additional stores across the US, following an earlier announcement regarding its New York City flagship.
- The closures, affecting locations such as Austin, Chicago, Washington, D.C., and Philadelphia, will begin in January, with the NYC flagship permanently closing on December 31.
- The company stated that these closures are part of an effort to "optimize" its store presence, allowing it to focus on higher-performing and high-potential locations.
- Despite rumours, a Saks Global spokesperson confirmed in October that the company is not filing for Chapter 11 bankruptcy, assuring that a restructuring is not being contemplated.
- This strategic decision aims to better position the Saks Off 5th business, which operates approximately 100 stores in the US and Canada, for long-term success.