SUDDEN SHUTTERS
Saks Off 5th to close 57 stores, including one in San Marcos
Saks Off 5th is closing its only San Antonio store.
Discount designer retailer Saks Off 5th is closing most of its U.S. stores, including the Neiman Marcus Last Call outpost in San Marcos (3939 S. I-35 #1105), as its parent company tries to wiggle its way out of bankruptcy. Liquidation sales will begin Saturday, January 31, at select locations.
The mass closures come after Saks Global — the parent company of luxury department stores Saks 5th Avenue, Bergdorf Goodman, and Neiman Marcus — filed for Chapter 11 bankruptcy protections on January 14. The conglomerate has been buckling under the strain of $2.5 million in debt it acquired with the 2024 purchase of rival retailer Neiman Marcus.
"As we advance on Saks Global's transformation, we are taking decisive steps to realign our business to better serve our luxury customers and drive full-price selling across our core luxury businesses," said Geoffroy van Raemdonck, Chief Executive Officer of Saks Global, in a release. "With these actions, we will be well positioned to seize the greatest opportunities for long-term growth and value creation. We sincerely thank our Saks Off 5th and Last Call colleagues for the important role they have played in serving our loyal customers."
Saks will close 57 Off 5th stores and shutter the five remaining locations of Neiman Marcus’ off-brand shop Last Call. Only 12 Off 5th units will survive the move. After the onslaught, Texas’ sole store will be at Grapevine Mills mall in Grapevine.
Many of the U.S. stores kicked off closing sales beginning January 31, and online sales are also active. An additional 23 stores will close outright on February 2. Here’s the full list of Texas shutters:
Saks Off 5TH locations holding closing sales:
- Cypress, 29300 Hempstead Rd.
- Sugar Land, 2745 N Town Center Blvd.
- Katy, 5000 Katy Mills Cir.
- San Antonio, 5819 Worth Pkwy.
Saks Off 5TH locations closing February 2:
- Grand Prairie, 2950 W. I-20 #125
- Dallas, 8040 Park Ln.
Last Call Locations holding closing sales:
- Grapevine, 3000 Grapevine Mills Pkwy. #233
- San Marcos, 3939 S. I-35 #1105
The overall primary market for luxury goods has been declining in recent years due to changing customer preferences, a perceived decline in quality in top brands like Gucci and Louis Vuitton, and a growing resale market led by sites like The RealReal and Vestaire Collective.
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