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Saks Global to Close 15 More Stores Amid Bankruptcy Restructuring March 11, 2026 (0 comments)
New York, NY--Saks Global Inc. is shutting down 15 additional retail locations as the parent company of Saks Fifth Avenue and Neiman Marcus navigates its ongoing Chapter 11 bankruptcy restructuring. The upcoming closures include 12 Saks Fifth Avenue locations and three Neiman Marcus stores, which will cease operations by the end of May.
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According to a report by the Associated Press, the affected sites include locations in Chicago, San Antonio, and Chevy Chase, Maryland. This move follows an earlier round of closures targeting eight Saks Fifth Avenue stores and one Neiman Marcus location by late April.
The report noted that by spring, the corporation's footprint will be reduced to 13 Saks Fifth Avenue storefronts, 32 Neiman Marcus stores, and Bergdorf Goodman. The company indicated that 500 brands have resumed merchandise shipments, unlocking roughly $1.3 billion in retail receipts, according to the AP. Additionally, the retailer is actively negotiating or has finalized repayment terms with approximately 175 suppliers.
Saks Global has been consolidating various business sectors since its January bankruptcy filing. The report highlighted the recent integration of the home goods site Horchow.com into the Neiman Marcus website, the winding down of 14 Fifth Avenue Club styling suites, and the shuttering of all but 12 Saks Off Fifth discount locations.
Read the AP report here.