Saks Global to close nine more outlets and most standalone Fifth Avenue Club suites as it focuses on luxury retail. Eight Saks Fifth Avenue stores and one Neiman Marcus location will shut. Bergdorf Goodman remains unaffected. This is part of an optimization phase with more sites to be reviewed.

Shops and e-commerce platforms will operate as usual. Online and remote selling channels will serve markets without physical stores. Standalone Fifth Avenue Club locations will be reduced. After acquiring Neiman Marcus Group, Saks Global plans to keep three Fifth Avenue Club sites in growing regions.

Saks Global recently secured $1.75bn in capital and entered Chapter 11 protection for financial restructuring. It previously announced plans to close most off-price outlets under Chapter 11, focusing on luxury retail. CEO Geoffroy van Raemdonck emphasizes the company’s commitment to exceptional products and personalized service.

Customers shopping on Horchow’s website will be redirected to Neiman Marcus’ site for the full assortment. The move aims to enhance integration across merchandising, marketing, and technology. These changes are part of a broader effort to streamline operations while maintaining service levels across luxury brands.

Read more at Yahoo Finance: Saks Global bankruptcy drives nine additional store closures