Saks Global said on Tuesday it will close nine additional retail locations as part of an effort to concentrate operations on stores it deems more profitable. In a court filing submitted on Tuesday, the luxury retail operator identified the closures as eight Saks Fifth Avenue locations and one Neiman Marcus location. The company also said the majority of its standalone Fifth Avenue Club personal styling suites will be shuttered.
Alongside the store shutdowns, Saks Global announced plans to transition its Horchow home decor business to Neiman Marcus’ online platform. The company set February 19 as the start date for Horchow to operate on Neiman Marcus’ website.
Saks said it will seek approval from a U.S. bankruptcy judge to complete the nine store closings at a court hearing on Friday. The request was included in a court document filed on Tuesday. The company previously entered bankruptcy protection last month, a step that followed the creation of a combined luxury retail group that brought together Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus roughly a year earlier.
In late January, the company announced plans to close the majority of its Saks OFF Fifth stores and the remaining Neiman Marcus Last Call locations, signaling a strategic move toward focusing on luxury retail formats and full-price sales. The latest round of announced closures continues that same emphasis on consolidating physical retail to prioritize higher-margin outlets and digital channels.
The company’s filing and the planned Horchow transition reflect a broader restructuring strategy being carried out under bankruptcy protection. The sequence of actions and the timing of court approval will determine the immediate operational changes for affected stores and services, including the standalone Fifth Avenue Club styling suites.
Context and next steps
Saks Global’s request for a judge’s approval at the upcoming Friday hearing is a procedural step within its bankruptcy proceedings. If the court grants the requested relief, the company will move forward with the announced closures and the Horchow migration to the Neiman Marcus online site on the stated date.