Saks Fifth Avenue to Close Polaris Location

Retailer's parent company plans to shutter 8 more Saks stores and 57 Saks Off 5th locations amid debt and restructuring

Published on Feb. 24, 2026

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Saks Global Enterprises, the parent company of Saks Fifth Avenue and Saks Off Fifth, is closing its Saks Fifth Avenue location at the Polaris Parkway in Columbus, Ohio this spring. The closure is part of a larger strategic move by the company to focus on more profitable locations after accumulating $2.5 billion in debt from its 2024 acquisition of Neiman Marcus. In total, Saks plans to close 8 additional Saks Fifth Avenue stores and 57 Saks Off 5th stores across the United States.

Why it matters

The Saks Fifth Avenue closure in Columbus is indicative of the challenges facing traditional department stores as they adapt to evolving consumer shopping habits and the financial pressures of major acquisitions. The decision to shutter underperforming locations and focus resources on more profitable stores suggests a strategic shift within Saks Global Enterprises as it works to restructure and position itself for the future of retail.

The details

The Saks Fifth Avenue store at 1500 Polaris Parkway in Columbus will close this spring, with all 41 employees being separated from employment between April 11 and April 30. The closure is part of a broader plan by Saks Global Enterprises to close 8 additional Saks Fifth Avenue stores and 57 Saks Off 5th locations across the United States, as the company looks to focus resources on 'more profitable locations'.

  • The Saks Fifth Avenue store at Polaris Parkway in Columbus will close this spring.
  • All 41 employees at the Polaris location will be separated from employment between April 11 and April 30, 2026.

The players

Saks Global Enterprises

The parent company of both Saks Fifth Avenue and its discount retailer Saks Off Fifth, which reported $2.5 billion in debt stemming from its 2024 acquisition of Neiman Marcus.

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The takeaway

As traditional department stores like Saks Fifth Avenue continue to face challenges in the evolving retail landscape, the closure of the Polaris location in Columbus highlights the need for these companies to strategically restructure, focus resources on their most profitable stores, and adapt to changing consumer preferences and shopping habits.