Saks Fifth Avenue In Bala Cynwyd Closing

BALA CYNWYD, PA — The iconic Saks Fifth Avenue on City Avenue in Bala Cynwyd is closing, according to its parent company.

Saks Global Enterprises LLC Tuesday announced the Main Line location will shutter the location at 2 Bala Plaza in Bala Cynwyd. The company also announced seven other Saks Fifth Avenue location closures, as well as the closure of one Neiman Marcus location.

SaksFirst gift cards can be redeemed at closing Saks Fifth Avenue stores for 15 days after store closing sales begin. Those same gift cards will be accepted at non-closing Saks Fifth Avenue stores and online.

However, in-store payments for SaksFirst credit card balances will no longer be accepted at closing Saks Fifth Avenue stores.

All closing sale purchases are final and are not eligible for return or exchange at any location.

According to a Worker Adjustment and Retraining Notification filed with the Pennsylvania Department of Labor and Industry, the store will close on April 11. It will lead to 50 people losing their jobs, according to the notice.

The company is also closing its Wilkes Barre location, which will impact 155 workers, another WARN notice states.

"These actions are designed to advance Saks Global's transformation with a focus on serving luxury customers, strengthening brand partner relationships and driving full-price selling to enable profitable and sustainable growth," the company said in a news release.

The company said it remains committed to serving customers in markets without a physical presence through its online and remote selling services.

Except for the select locations closing, the company's stores and e-commerce experiences across Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman are operating as usual.

"We are initiating a series of actions to reinforce Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman as the ultimate destinations for luxury with a seamless multi-channel shopping experience," Geoffroy van Raemdonck, Chief Executive Officer of Saks Global, said. "By optimizing our operational footprint, we will be better positioned to deliver exceptional products, elevated experiences and highly personalized service across all channels, while simultaneously positioning our company to make investments that enable long-term growth and value creation. Importantly, opportunities within the luxury market remain strong, and Saks Global is primed to play a distinct, enduring role within the industry for many years to come."

The closures come as the company focuses "on profitable locations with the highest growth potential."

Contact the Saks Fifth Avenue customer service team at 877-551-7257 or SaksInquiries@Stretto.co with questions.