Luxury department store group Saks Global is closing most of its lower-priced Saks Off 5th stores and the remaining Neiman Marcus Last Call stores as part of its restructuring. Its e-commerce activities are also being phased out.
Repaying debts
In total, the measure will lead to the closure of 57 Saks Off 5th stores and five Neiman Marcus Last Call stores. Closing sales will start on Saturday in 34 stores, with the remaining 23 stores starting their sales on February 2. Twelve stores will remain open (for now?), while the Saks Off 5th webshop has also started a liquidation sale.
