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Saks Global Has Changed Its Mind About Closing These 3 Stores
Two Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
Saks Global said three department stores originally slated to close will remain open following landlord negotiations.
New York—Saks Global has changed its mind about a few store closures.
The retailer, whose portfolio includes Saks Fifth Avenue and Neiman Marcus, announced its first slew of store closures in February, part of its ongoing Chapter 11 bankruptcy proceedings.
However, the retailer confirmed this week that the following stores have been removed from the list of stores slated to close:
Saks Fifth Avenue at The Mall at University Town Center in Sarasota, Florida;
Saks Fifth Avenue at The Gardens on El Paseo in Palm Desert, California; and
Neiman Marcus Westchester in White Plains, New York.
The stores will remain open following “recent productive conversations with our landlords and further evaluation,” a Saks Global spokesperson said.
“Our approach to optimizing our store footprint remains centered on ensuring we focus our presence in markets with a high concentration of luxury shoppers where we can operate at an attractive level of profitability. We look forward to continuing to serve customers in these markets.”
Related stories will be right here …
The retailer, whose portfolio includes Saks Fifth Avenue and Neiman Marcus, announced its first slew of store closures in February, part of its ongoing Chapter 11 bankruptcy proceedings.
However, the retailer confirmed this week that the following stores have been removed from the list of stores slated to close:
Saks Fifth Avenue at The Mall at University Town Center in Sarasota, Florida;
Saks Fifth Avenue at The Gardens on El Paseo in Palm Desert, California; and
Neiman Marcus Westchester in White Plains, New York.
The stores will remain open following “recent productive conversations with our landlords and further evaluation,” a Saks Global spokesperson said.
“Our approach to optimizing our store footprint remains centered on ensuring we focus our presence in markets with a high concentration of luxury shoppers where we can operate at an attractive level of profitability. We look forward to continuing to serve customers in these markets.”
Saks Global announced earlier this year that it would be closing most of its Saks Off 5th retail locations and Last Call stores. It also closed 14 of its Fifth Avenue Club personal styling suites.
Customers who shopped with furniture and home decor retailer Horchow are redirected to the home category on the Neiman Marcus website.
There are currently no changes planned for the Bergdorf Goodman brand, according to Saks Global.
After its second announcement of store closures earlier this month, Saks Global said it has “largely completed” the optimization of its store network but was in discussions with landlords to make final decisions.
Saks Global filed for Chapter 11 bankruptcy protection in January, facing mounting debt and the loss of key executives and merchants.
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