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Saks Global to Close 15 More Department Stores in Bankruptcy Restructuring
Retailer focuses on most profitable businesses and trims debt during Chapter 11 proceedings.
Published on Mar. 7, 2026
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Saks Global Inc., the parent company of Saks Fifth Avenue and Neiman Marcus, announced it will close 12 more Saks Fifth Avenue stores and 3 more Neiman Marcus stores as part of its bankruptcy restructuring. This comes on top of 9 store closures announced last month, leaving the company with 13 Saks Fifth Avenue and 32 Neiman Marcus locations.
Why it matters
The store closures are part of Saks Global's efforts to focus on its most profitable businesses and reduce debt during its Chapter 11 bankruptcy proceedings. The company is also working to resume inventory shipments from over 500 brands, accounting for more than 80% of expected inventory from February through April.
The details
Saks Global said the 15 stores slated for closure will remain open until the end of May. The company is also winding down 14 standalone Fifth Avenue Club personal styling suites, keeping only 3, and has shuttered the Horchow.com home goods business. Additionally, all but 12 Saks Off Fifth outlet locations will be closed, with the remaining outlets serving primarily as a channel to sell residual inventory.
- The 12 Saks Fifth Avenue stores and 3 Neiman Marcus stores will close by the end of May 2026.
- The 8 Saks Fifth Avenue stores and 1 Neiman Marcus store announced for closure last month will remain open until the end of April 2026.
The players
Saks Global Inc.
The parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, which filed for Chapter 11 bankruptcy in January 2026.
Saks Fifth Avenue
A luxury department store chain owned by Saks Global Inc., with 13 locations remaining after the latest round of closures.
Neiman Marcus
A luxury department store chain owned by Saks Global Inc., with 32 locations remaining after the latest round of closures.
What’s next
Saks Global is in talks or has reached repayment agreements with about 175 suppliers as part of its bankruptcy restructuring.
The takeaway
Saks Global's store closures and focus on its most profitable businesses are part of its efforts to reduce debt and streamline operations during its Chapter 11 bankruptcy proceedings, as the company works to resume inventory shipments and rebuild its financial footing.
