Saks Closing 8 Stores, Neiman Marcus Boston as Part of Bankruptcy

Luxury retailer focuses on most profitable locations during Chapter 11 restructuring.

Published on Feb. 10, 2026

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The operator of Saks Fifth Avenue and Neiman Marcus has announced it will close eight Saks Fifth Avenue stores as well as its Neiman Marcus Boston location as part of its Chapter 11 bankruptcy restructuring. The company says the moves will allow it to focus on its most profitable businesses and pare down debt.

Why it matters

The closures are the latest sign of the challenges facing traditional brick-and-mortar retailers, especially high-end department stores, as consumer shopping habits have shifted dramatically in recent years toward e-commerce. The bankruptcy filing and store closures are an attempt by the company to streamline operations and emerge as a stronger, more profitable business.

The details

The eight Saks Fifth Avenue stores slated for closure are located in Philadelphia, Columbus, Ohio, and several other undisclosed locations. The company is also shutting down its Neiman Marcus store in Boston as part of the restructuring. The moves are intended to allow Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman to focus on providing a "seamless multichannel shopping experience" for luxury customers.

  • The store closures were announced on February 11, 2026.

The players

Saks Fifth Avenue

A luxury department store chain owned by the parent company that also operates Neiman Marcus.

Neiman Marcus

A high-end department store chain that is being impacted by the bankruptcy and restructuring alongside Saks Fifth Avenue.

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What’s next

The company has not provided a timeline for when the store closures will be completed as part of the bankruptcy proceedings.

The takeaway

The Saks and Neiman Marcus closures reflect the ongoing challenges facing traditional department stores as they compete with the rise of e-commerce and changing consumer shopping habits. The restructuring aims to position the luxury brands for long-term success, but the path forward remains uncertain.