Saks Global to Close 8 Saks Fifth Avenue Stores and 1 Neiman Marcus Store

The company is restructuring during its Chapter 11 bankruptcy proceedings.

Published on Feb. 10, 2026

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Saks Global, the operator of Saks Fifth Avenue and Neiman Marcus, announced it will close eight Saks Fifth Avenue stores and one Neiman Marcus store in Boston as part of its Chapter 11 bankruptcy restructuring. The company said the closures are focused on its least profitable locations as it works to reinforce its core luxury brands.

Why it matters

The store closures are part of Saks Global's efforts to streamline its operations and focus on its most profitable businesses during its bankruptcy proceedings. The moves come as the luxury retail sector faces increasing competition and changing consumer shopping habits.

The details

The Saks Fifth Avenue stores slated for closure are located in Philadelphia, Columbus, Ohio, and Phoenix. The Neiman Marcus store in Boston will also be shuttered. The company said the stores targeted for closing represent a small part of its overall business and were not profitable. Saks Global also announced it will be winding down 14 standalone Fifth Avenue Club personal styling suites and closing its Horchow.com home goods site.

  • The store closures will take place by the end of April 2026.
  • Saks Global filed for Chapter 11 bankruptcy reorganization on January 14, 2026.

The players

Saks Global

The parent company that operates the Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman luxury retail brands.

Geoffroy van Raemdonck

The CEO of Saks Global.

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What they’re saying

“We are initiating a series of actions to reinforce Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman as the ultimate destinations for luxury with a seamless multichannel shopping experience.”

— Geoffroy van Raemdonck, CEO of Saks Global (greenwichtime.com)

What’s next

Saks Global said the store closures announced are just the initial phase, and more closures across the Neiman Marcus and Saks Fifth Avenue brands are expected as the company continues its restructuring.

The takeaway

The Saks Global bankruptcy and store closures highlight the challenges facing traditional luxury retailers as they compete with online shopping and changing consumer preferences. The company's efforts to streamline its operations and focus on its most profitable locations could help it emerge from bankruptcy as a leaner, more competitive player in the luxury retail space.