Saks Global Shutters Stores as It Restructures in Bankruptcy

The parent company of Saks Fifth Avenue and Neiman Marcus is closing most of its Saks Off 5th locations to focus on its iconic department stores.

Jan. 30, 2026 at 9:47am

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The parent company of Saks Fifth Avenue and Neiman Marcus is closing the majority of its Saks Off 5th locations as part of a broader restructuring during bankruptcy proceedings. The company plans to focus its efforts on its core Saks Fifth Avenue and Neiman Marcus department store brands.

Why it matters

The move reflects the broader challenges facing traditional brick-and-mortar retail, especially in the luxury and off-price sectors, as consumer shopping habits have shifted dramatically in recent years. Saks Global's bankruptcy filing and store closures are the latest sign of the upheaval in the retail industry.

The details

Saks Global, the parent company of Saks Fifth Avenue and Neiman Marcus, has announced it will be closing the majority of its Saks Off 5th discount stores as part of a broader restructuring during its Chapter 11 bankruptcy proceedings. The company plans to focus its efforts and investments on its core Saks Fifth Avenue and Neiman Marcus department store brands, which it sees as the keys to its long-term success.

  • Saks Global filed for Chapter 11 bankruptcy protection on January 15, 2026.

The players

Saks Global

The parent company of luxury department store chains Saks Fifth Avenue and Neiman Marcus.

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The takeaway

Saks Global's decision to shutter most of its Saks Off 5th discount stores underscores the challenges facing traditional brick-and-mortar retail, especially in the luxury and off-price sectors, as consumer shopping habits have shifted dramatically in recent years. The company's bankruptcy filing and store closures are the latest sign of the upheaval in the retail industry.