Saks to Close Nine Department Stores in Initial Bankruptcy Review

The plans include eight Saks Fifth Avenue locations and one Neiman Marcus store.

Published on Feb. 10, 2026

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The parent of Saks Fifth Avenue and Neiman Marcus plans to close nine department stores as part of an initial review in the luxury retailer's chapter 11 restructuring proceedings. Eight Saks Fifth Avenue stores nationwide and a Neiman Marcus location in Boston will close in the first phase of what Saks Global says is a continuing review after it filed for bankruptcy last month. The company is also closing 14 stand-alone Fifth Avenue Clubs, which offer personal shopping and styling services.

Why it matters

The closures are part of Saks' broader bankruptcy restructuring as the luxury retail sector continues to face challenges from the shift to online shopping and the economic impacts of the pandemic. The company is looking to streamline its operations and focus on its most profitable locations.

The details

As part of its initial bankruptcy review, Saks plans to close eight Saks Fifth Avenue stores across the country as well as one Neiman Marcus location in Boston. The company is also shutting down 14 of its stand-alone Fifth Avenue Clubs, which provide personal shopping and styling services.

  • Saks filed for Chapter 11 bankruptcy last month.

The players

Saks Global

The parent company of Saks Fifth Avenue and Neiman Marcus.

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What’s next

Saks says this is just the initial phase of its bankruptcy review and that more store closures may be announced in the coming months as the company works to streamline its operations.

The takeaway

The Saks bankruptcy and store closures reflect the ongoing challenges facing the luxury retail sector, which has been hit hard by the shift to online shopping and the economic impacts of the pandemic. The company is looking to focus on its most profitable locations as part of its restructuring efforts.