Major Luxury Department Store Chain To Shutter 2nd VA Location

The parent company of Saks Fifth Avenue and Neiman Marcus said Friday it plans to close an additional 15 locations, including one in Virginia.

The stores will close by the end of May as the retail empire moves through Chapter 11 bankruptcy proceedings, a company spokesperson said.

The announcement comes just weeks after Saks Global said it was closing nine locations, including eight Saks Fifth Avenue stores and one Neiman Marcus store.

On Friday, Saks Global said it will close 12 more Saks Fifth Avenue stores and three more Neiman Marcus stores as it focuses on its most profitable businesses and trims debt during its bankruptcy restructuring.

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The Virginia location included in the latest round of closings is the Saks Fifth Avenue store located in Tysons Galleria. The company previously announced that it planned to close the state's only other Saks Fifth Avenue store, located at Stony Point Fashion Park in Richmond.

The company's Neiman Marcus location at Tysons Galleria is expected to remain open.

The locations targeted for the first round of closings are expected to remain open until the end of April.

With plans to close a total of 24 department stores by spring, that would leave the parent company with 13 Saks Fifth Avenue stores, as well as 32 Neiman Marcus locations.

Saks Global has been shrinking its business since it filed for Chapter 11 bankruptcy in January. Last month, it said it would wind down 14 standalone Fifth Avenue Club personal styling suites, keeping three.

It also shuttered home goods retailer Horchow.com, a business that Neiman Marcus acquired in the late 1980s. As of Feb. 19, shoppers have been redirected to the home category on NeimanMarcus.com.

Additionally, the company is closing down all but 12 of its Saks Off Fifth locations. The remaining outlets will serve primarily as a selling channel for residual inventory from Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.

The Associated Press contributed reporting.