Saks Global Plans 15 Additional Store Shutdowns Across U.S.
Synopsis
Saks Global plans to close 15 additional department stores in the United States as part of its Chapter 11 restructuring. The closures include 12 Saks Fifth Avenue locations and three Neiman Marcus stores. The move follows earlier shutdown plans, bringing total planned store closures to 24 in 2026. The luxury retailer filed for bankruptcy in January with about $3.4 billion in debt while working to restore supplier shipments.
Saks Global plans to close 15 more department stores in the United States during its Chapter 11 restructuring. The closures include 12 Saks Fifth Avenue locations and three Neiman Marcus stores. Combined with earlier shutdowns, the total number of planned store closures has reached 24 as the retailer restructures operations.
Key Highlights
- Saks Global will close 15 additional stores as part of its Chapter 11 restructuring plan.
- Closures include 12 Saks Fifth Avenue locations and three Neiman Marcus department stores.
- Total planned Saks Global store closures rise to 24 across the United States.
- More than 500 brands resumed shipments, restoring about $1.3 billion in merchandise inventory.
Saks Global will close 15 additional department stores in the United States, including 12 Saks Fifth Avenue locations and three Neiman Marcus stores, as the luxury retailer continues restructuring under Chapter 11 bankruptcy protection, according to a report by Reuters.
The closures are part of a broader Saks Global restructuring plan aimed at reducing costs and stabilising operations after the company filed for bankruptcy in January 2026, listing about $3.4 billion in debt. The affected stores are expected to remain open until May 2026, after which they will shut down.
The latest move follows a previous announcement to close nine stores, bringing the total planned Saks Global store closures to 24 locations in 2026.
Retail Footprint Shrinks Across the U.S.
After the closures are completed, Saks Global expects to operate 13 Saks Fifth Avenue stores and 32 Neiman Marcus locations, as well as the Bergdorf Goodman stores in New York City.
The company is also reducing several smaller operations as part of the restructuring.
Its Fifth Avenue Club personal styling service will be reduced from 14 locations to three, while Horchow.com, the group’s home-furnishings website, has been shut down, with traffic redirected to the Neiman Marcus platform.
Most Saks Off Fifth outlet stores have also been closed, leaving about 12 remaining locations that will focus mainly on selling excess inventory.
Supplier Shipments Resume During Restructuring
Financial pressures before the bankruptcy filing had disrupted supplier payments and slowed merchandise shipments to Saks stores.
The company said the situation has begun to improve during the restructuring process. More than 500 brands have resumed shipments, restoring roughly $1.3 billion worth of inventory to Saks Global stores.
Saks Global also said it has reached or is negotiating repayment agreements with about 175 suppliers related to outstanding bills from before the bankruptcy filing.
Debt Pressures Follow Neiman Marcus Acquisition
The restructuring comes after Saks completed a $2.7 billion acquisition of Neiman Marcus in 2024, combining Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman into a single luxury retail group.
A U.S. bankruptcy court approved about $1 billion in debtor-in-possession financing earlier this year, allowing the company to continue operating while restructuring its debt.
Saks Global operates mainly in the United States luxury department store market, employing roughly 17,000 workers and selling high-end fashion, accessories and luxury goods through physical stores and online platforms.
Across the retail industry, traditional department stores have faced declining mall traffic and increasing competition from brand-owned boutiques and online retailers, leading to several restructuring efforts and store closures in recent years.
FAQs
Q1. Why is Saks Global closing stores in 2026?
Saks Global is closing stores as part of a Chapter 11 restructuring after filing for bankruptcy with about $3.4 billion in debt.
Q2. How many stores will Saks Global close in total?
The company plans to close 24 department stores in 2026, including 15 newly announced closures.
Q3. Which brands are owned by Saks Global?
Saks Global operates Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman and Saks Off Fifth retail brands.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
