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Saks Global to Close 15 More Stores After Bankruptcy

Saks Global to Close 15 More Stores After Bankruptcy

Post by : Bianca Haleem

Luxury retail company Saks Global announced on Friday that it will close 15 additional stores as part of its ongoing efforts to reduce losses and stabilize its business after filing for bankruptcy earlier this year.

The company said the move is part of a broader restructuring plan focused on shutting down underperforming locations and concentrating resources on more profitable, high-end stores. Saks Global aims to strengthen its core luxury retail operations by prioritizing markets where demand remains strong.

According to the company, most of the store closures have already been finalized with this latest announcement. However, Saks Global said it is still in discussions with several landlords to finalize the exact number of stores that will remain open in the future.

The retailer has been facing weak sales and financial pressure, which led to missed vendor payments in the past year. As a result, several luxury brands stopped shipping products to Saks stores, creating inventory shortages that further affected sales.

By reducing its physical store footprint and focusing on stronger locations, Saks Global hopes to improve profitability and rebuild its retail operations in the competitive luxury fashion market.

March 7, 2026 11:27 a.m. 1273
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