Saks Global to Close 8 Saks Fifth Avenue and 1 Neiman Marcus Store (KSSG, NMUS)

Saks Global (KSSG, NMUS) announced it will close eight Saks Fifth Avenue stores and one Neiman Marcus location as part of its Chapter 11 restructuring to reduce debt and focus on core brands. The affected stores, including in Philadelphia, Columbus, Ohio, and Phoenix, will remain open until April 30, leaving 25 Saks Fifth Avenue and 35 Neiman Marcus locations. The company will shutter 14 standalone Fifth Avenue Club styling suites, keep three, and redirect Horchow.com inventory to NeimanMarcus.com. This follows plans to close most Saks Off 5th stores, retaining 12, and shutter Last Call outlet locations. The Chapter 11 filing on January 14, 2026, follows a difficult restructuring period, with about $500 million of a $1.75 billion package securing supplier payments.