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Saks World, the bankrupt firm behind Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, is closing nearly all of its off-price areas, Saks Off fifth and Final Name.
In January, Saks World filed for Chapter 11 chapter safety following a 12 months marked by missed funds and restructuring. The corporate owes tons of of hundreds of thousands of {dollars} to manufacturers like Chanel and LVMH.
As a part of its turnaround plan, Saks is “sharpening its give attention to luxurious” and shutting nearly all of its shops, the corporate mentioned in a press release.
“We’re taking decisive steps to realign our enterprise to raised serve our luxurious prospects,” Geoffroy van Raemdonck, Saks World’s new CEO, mentioned. “With these actions, we will probably be well-positioned to grab the best alternatives for long-term development and worth creation.”
All Final Name shops are set to shut on the finish of January, and 23 Saks Off fifth areas will shut on February 2. The remaining 34 Saks Off fifth areas will start holding closing gross sales on January 31.
Saks Off fifth’s web site, a separate authorized entity from Saks World, can be making ready to shut, with a sale starting on January 30.
Twelve Saks Off fifth areas are anticipated to stay open, together with six in Florida and two in New York.
Earlier in January, Saks shut down a facility in Florida and mentioned it will lay off at the least 74 positions.
Right here is the complete listing of Saks Off fifth and Final Name areas closing:
Saks Off fifth areas holding closing gross sales beginning January 31:
1. Arundel (Hanover, MD)
2. Hawaii (Honolulu, HI)
3. Palm Desert (Palm Desert, CA)
4. Scottsdale (Scottsdale, AZ)
5. Phoenix (Chandler, AZ)
6. Eastchester (Eastchester, NY)
7. Bridgewater (Bridgewater, NJ)
8. Clarksburg (Clarksburg, MD)
9. Deer Park (Deer Park, NY)
10. Shrewsbury (Shrewsbury, NJ)
11. Elizabeth (Elizabeth, NJ)
12. Boston (Somerville, MA)
13. Wrentham (Wrentham, MA)
14. Orlando Vineland (Vineland, FL)
15. Naples Park Shore (Naples, FL)
16. Orlando (Orlando, FL)
17. Tampa (Lutz, FL)
18. Ellenton (Ellenton (Tampa), FL)
19. Destin (Destin, FL)
20. Charlotte (Charlotte, NC)
21. Atlanta (Woodstock, GA)
22. Hilton Head (Bluffton, SC)
23. Rosemont (Rosemont, IL)
24. Cypress (Cypress, TX)
25. Sugarland (Sugarland, TX)
26. Katy (Katy, TX)
27. Costa Mesa (Costa Mesa, CA)
28. Beverly Join (Los Angeles (West), CA)
29. Woodland Hills (Woodland Hills, CA)
30. Las Vegas N (Las Vegas, NV)
31. Livermore (Livermore, CA)
32. San Antonio (San Antonio, TX)
33. Cabazon (Cabazon, CA)
34. Las Vegas S (Las Vegas, NV)
Saks Off fifth areas closing February 2:
1. Mebane (Mebane, NC)
2. Charleston (Charleston, SC)
3. Grand Prairie (Grand Prairie, TX)
4. Ala Moana (Honolulu, HI)
5. Petaluma (Petaluma, CA)
6. Glendale (Glendale, AZ)
7. Tucson (Tucson, AZ)
8. Merrimack (Merrimack, NH)
9. Riverhead (Riverhead, NY)
10. Clinton (Clinton, CT)
11. North Atlanta (Woodstock, GA)
12. Aurora Chicago (Aurora, IL)
13. Dallas Park (Dallas, TX)
14. Northbrook (Northbrook, IL)
15. Eagan (Eagan, MN)
16. Columbus (Columbus, OH)
17. San Diego (San Diego, CA)
18. Camarillo (Camarillo, CA)
19. Ontario (Ontario, CA)
20. Milpitas (Milpitas, CA) 21. State Avenue (Chicago, IL)
22. Stamford Excessive Ridge (Stamford, CT)
23. Greenburgh (Greenburgh, NY)
Final Name areas holding closing gross sales:
1. Sawgrass Mills (Dawn, FL)
2. Desert Hills Premium Shops (Cabazon, CA)
3. Grapevine Mills (Grapevine, TX)
4. San Marcos Premium Shops (San Marcos, TX)
5. The Shops at Orange (Orange, CA)