Saks Fifth Avenue to close Polaris store, 7 others amid bankruptcy

Luxury retailer Saks Global will shutter 8 Saks Fifth Avenue locations and 1 Neiman Marcus store as part of its Chapter 11 bankruptcy restructuring.

Published on Feb. 11, 2026

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Less than two weeks after announcing the closure of its discount Saks Off 5th and Last Call stores, luxury retailer Saks Global has now revealed plans to shut down eight Saks Fifth Avenue locations, including the store at Polaris Fashion Place in Columbus, Ohio, as well as one Neiman Marcus store. The company cited a focus on "profitable locations with the highest growth potential" as the reason for the upcoming closures.

Why it matters

The Saks Fifth Avenue and Neiman Marcus closures are the latest sign of the financial struggles facing luxury retail, which has been hit hard by the pandemic and changing consumer shopping habits. The decision to shutter these high-profile stores is a blow to the affected communities and raises questions about the long-term viability of traditional department store models.

The details

Saks Global, the parent company of Saks Fifth Avenue and Neiman Marcus, filed for Chapter 11 bankruptcy protection in mid-January. The company attributed its financial troubles at least in part to its $2.7 billion merger with Neiman Marcus in 2024. As part of its bankruptcy restructuring, Saks Global will be closing one Neiman Marcus store and eight Saks Fifth Avenue locations, including the store at Polaris Fashion Place in Columbus, Ohio. The majority of the company's standalone Fifth Avenue Club personal styling suites will also be shuttered. The affected Saks Fifth Avenue stores are expected to remain open until the end of April.

  • Saks Global filed for Chapter 11 bankruptcy protection in mid-January 2026.
  • Saks Global announced the upcoming closures of 8 Saks Fifth Avenue stores and 1 Neiman Marcus store on February 10, 2026.
  • The affected Saks Fifth Avenue stores are expected to remain open until the end of April 2026.

The players

Saks Global

The parent company of luxury retailers Saks Fifth Avenue and Neiman Marcus, which filed for Chapter 11 bankruptcy protection in January 2026.

Neiman Marcus

A luxury department store chain that was acquired by Saks Global in a $2.7 billion merger in 2024.

Polaris Fashion Place

A shopping mall in Columbus, Ohio that houses one of the Saks Fifth Avenue stores that will be closing.

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What’s next

It's unclear from the company's website when the affected Saks Fifth Avenue stores will officially close, but they are expected to remain open until the end of April 2026.

The takeaway

The Saks Fifth Avenue and Neiman Marcus closures highlight the ongoing challenges facing traditional luxury department stores, which have been forced to adapt to changing consumer preferences and the economic impacts of the pandemic. The decision to shutter these high-profile stores will have ripple effects on the affected communities, raising questions about the long-term viability of the department store model.