Major Luxury Discount Retailer To Close CT Locations: See Where And When

Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, announced this week it will close the majority of its Saks OFF 5TH retail locations and remaining Last Call stores after the company entered into Chapter 11 bankruptcy proceedings earlier this month.

According to the Saks website, the Saks OFF 5TH locations in Clinton and Stamford will close Feb. 2.

The Clinton location is within the Clinton Premium Outlets at 20 Killingworth Turnpike and has been open for decades.

The Stamford store opened in October 2022 following the closure of the Saks OFF 5TH at the Stamford Town Center the year before. The store shares a building with Whole Foods at 110 High Ridge Road, the former site of retail giant Lord & Taylor.

Saks Global said the closings of its off-price operations will allow the company to focus on luxury retail and full-price selling of its portfolio.

"The company is incredibly grateful for the loyalty its Saks OFF 5TH and Last Call customers have shown over the years and appreciates being part of your shopping journey," Saks Global says on its website.

Closing sales with markdowns will begin in certain Saks OFF 5TH stores and all remaining Last Call stores on Jan. 31, according to Saks Global. Clinton and Stamford are not included on the list of participating stores.

There will be 34 Saks OFF 5TH stores closing on Jan. 31, and 23 closing on Feb. 2. The five remaining Last Call stores in California, Florida and Texas will close, although no date was given.

The company noted 12 Saks OFF 5Th stores will remain open in California, Florida, Georgia, New Jersey, New York and Texas.

Saks announced it would buy Neiman Marcus for $2.65 billion in the summer of 2024, with the goal of creating a powerhouse in a luxury sector that had grown more fragmented. Online sellers have been siphoning customers, and big-name brands have expanded the number of their own stores to sell their goods.

But the acquisition only added to an already onerous debt at Saks as luxury sales weakened. Saks was having trouble paying suppliers before, and by last year, it began to stretch out payment periods, angering brands and fraying relationships.

According to the bankruptcy filing, the company listed $1 billion to $10 billion in assets and liabilities.

Patch editor Anna Schier and the Associated Press contributed reporting