Dallas TX, January 30, 2026
Saks Global has announced significant store closures, winding down most of its Saks Off 5th and Neiman Marcus Last Call locations due to a Chapter 11 bankruptcy restructuring. This strategic pivot aims to concentrate on luxury retail, reflecting ongoing consumer interest in higher-end products. Liquidation sales will start at the affected stores by January 2026, while select Saks Off 5th stores will remain open to sell residual inventory.
Saks Global to Close Majority of Off-Price Stores Amid Restructuring
Strategic Focus Shifts to Luxury Retail
Dallas, TX – Saks Global has made a significant announcement regarding the future of its retail operations, revealing plans to close most of its Saks Off 5th and Neiman Marcus Last Call stores amid a Chapter 11 bankruptcy restructuring. This decision reflects a concerted effort to refocus on luxury retail, which has seen continued consumer interest and resilience in a fluctuating economy.
The closures signal not just a transition for Saks Global, but also indicate a broader trend in the retail sector where companies are prioritizing high-margin luxury segments over discount operations. The resilience and determination of local entrepreneurs exemplify how shifting consumer preferences can lead to new opportunities for growth in the Dallas County economy, particularly as businesses innovate and adapt to market demands.
Details of Store Closures
Under the restructuring plan, Saks Global will start winding down operations at the majority of its Saks Off 5th locations and all Neiman Marcus Last Call stores. A select number of Saks Off 5th stores will remain open primarily to sell residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman. The liquidation sales for the closing stores will begin on January 31, 2026, allowing for an opportunity for customers to purchase remaining stock at discounted prices. Consumers can continue to use gift cards until February 14, 2026, while online operations for saksoff5th.com will start winding down on January 30, 2026.
Understanding the Financial Context
This strategic decision follows Saks Global’s recent Chapter 11 bankruptcy filing, attributed to considerable debt stemming from the $2.7 billion acquisition of Neiman Marcus in 2024. The off-price sector was identified as a significant financial burden, with projections suggesting losses of $139 million for the Saks Off 5th business in the fiscal year 2025. By narrowing their focus, Saks Global aims to consolidate resources towards their luxury divisions, a move that could bolster their long-term financial stability.
Company’s Strategic Shift and Future Growth
CEO Geoffroy van Raemdonck has outlined a vision for realignment to better cater to luxury consumers, emphasizing the importance of driving full-price sales across its core luxury retailers. This pivot represents an acknowledgment of evolving consumer behavior, coupled with the intent to enhance company value through strategic investments in high-potential areas. As local entrepreneurs and businesses continue to embrace innovation and adapt to shifts in consumer preferences, the focus on luxury retail may create new dynamics within the local market, potentially attracting private investment and fostering economic growth.
Impact on the North Texas Community
The Dallas-Fort Worth area will feel the effects of these closures, with Saks Off 5th stores in Grand Prairie and Dallas slated to close early next week, while the Grapevine Mills location of Saks Off 5th will remain open. Unfortunately, the Neiman Marcus Last Call store located at Grapevine Mills will also shut its doors as part of the restructuring efforts. These changes may lead to a temporary reduction in local retail options, but they may ultimately create opportunities for other retailers to fill the gaps left behind.
Background on Saks Global
Previously known as Hudson’s Bay Company, Saks Global owns notable luxury retailers including Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, and their off-price counterparts. The company’s decision to strategically refocus highlights a growing trend in the retail sector towards luxury products, indicating a shift that aligns with current consumer preferences and market conditions.
Frequently Asked Questions (FAQ)
What stores are closing?
Saks Global is closing the majority of its Saks Off 5th and all Neiman Marcus Last Call stores. A select number of Saks Off 5th locations will remain open to sell residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman.
When will the closures take effect?
Liquidation sales at the closing stores are set to begin on January 31, 2026. The online platform, saksoff5th.com, will commence its wind-down operations with sales starting on January 30, 2026.
How does this affect customers with gift cards or rewards?
Customers can redeem gift cards through February 14, 2026, in-store and February 13, 2026, online. Existing rewards from store credit cards can be redeemed until March 1, 2026.
Which locations in North Texas are affected?
The Saks Off 5th stores in Grand Prairie and Dallas will close early next week. The Saks Off 5th location at Grapevine Mills will remain open, while the Neiman Marcus Last Call store at Grapevine Mills will close.
Why is Saks Global closing these stores?
The closures are part of Saks Global’s Chapter 11 bankruptcy restructuring, aiming to refocus the company on its luxury retail operations and address financial challenges stemming from its acquisition of Neiman Marcus.
Key Features of the Store Closures
| Feature | Details |
|---|---|
| Number of Stores Closing | Majority of Saks Off 5th locations and all Neiman Marcus Last Call stores. |
| Remaining Open | 12 Saks Off 5th stores will remain open to sell residual inventory. |
| Liquidation Sales Start | January 31, 2026, for closing stores; January 30, 2026, for online platform. |
| Gift Card Redemption | Accepted until February 14, 2026, in-store and February 13, 2026, online. |
| Impact on North Texas | Saks Off 5th stores in Grand Prairie and Dallas will close; Grapevine Mills location remains open. |
Deeper Dive: News & Info About This Topic
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Dallas-Fort Worth Faces Retail Shakeup Amid Store Closures
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