Saks Global to Close Nine Stores Across US as Part of Bankruptcy

Retailer aims to emerge from bankruptcy as a smaller, more profitable department store chain.

Published on Feb. 10, 2026

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Saks Global Enterprises announced it will be closing more than 10% of its full-price Saks Fifth Avenue and Neiman Marcus stores across the United States as part of its efforts to emerge from bankruptcy as a smaller and more profitable department store operator.

Why it matters

The closures are a sign of the ongoing challenges facing traditional department stores as they compete with e-commerce and changing consumer shopping habits. Saks Global's bankruptcy filing and store closures reflect the broader shakeup in the retail industry.

The details

Eight Saks Fifth Avenue stores are closing, including locations in Philadelphia and Phoenix. The Neiman Marcus store at Copley Place in Boston is also shuttering as part of Saks Global's restructuring plan.

  • Saks Global Enterprises announced the store closures on February 10, 2026.

The players

Saks Global Enterprises

A department store operator that owns the Saks Fifth Avenue and Neiman Marcus retail chains.

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What’s next

Saks Global Enterprises will continue its bankruptcy proceedings as it works to emerge as a smaller, more profitable department store chain.

The takeaway

The Saks Global store closures highlight the ongoing challenges facing traditional brick-and-mortar retailers as they adapt to changing consumer preferences and the rise of e-commerce.