Major Metropolitans Largely Spared in Saks Fifth Avenue Bankruptcy Closings
By Mark Hallum February 11, 2026 12:51 pm
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Saks Fifth Avenue is reducing its store count to 25 as part of its ongoing Chapter 11 bankruptcy restructuring, cutting ties with eight of its locations.
None of the closures will impact the New York City metropolitan area — apart from a store at American Dream Mall in New Jersey — nor will stores close in Los Angeles, Washington, D.C., and South Florida.
The bankruptcy filing will close only one Neiman Marcus location in Boston, while Saks’ flagship at Manhattan’s 611 Fifth Avenue will remain in place despite the larger property encompassing the store selling to Vornado Realty Trust in August 2025 for $218 million. Hudson’s Bay Company, the owner of Saks, acquired Neiman Marcus for $2.7 billion in 2024.
A new report from foot traffic tracker Placer.ai shows that visits declined 10.5 percent year-over-year at Neiman Marcus in January, while visits were up 1.2 percent at Saks stores.
One major location being shuttered in April includes the Saks at the high-end, luxury-centric Biltmore Fashion Park development in Phoenix, Ariz.
“By optimizing our operational footprint, we will be better positioned to deliver exceptional products, elevated experiences and highly personalized service across all channels, while simultaneously positioning our company to make investments that enable long-term growth and value creation,” Geoffroy van Raemdonck, CEO of Saks Global, said in a statement. “Importantly, opportunities within the luxury market remain strong, and Saks Global is primed to play a distinct, enduring role within the industry for many years to come.”
Other Saks operations winding down due to the bankruptcy include 14 Fifth Avenue Club locations in the U.S. and 12 Saks Off 5th stores in suburban markets, not including the Beverly Connection shop in L.A. announced by Saks Global on Instagram earlier this month.
Mark Hallum can be reached at mhallum@commercialobserver.com.
