Amid Chapter 11 bankruptcy, Saks Global Enterprises has announced the closings of nine stores, including one in Pennsylvania.
Saks Global said last week that it is refining the Saks Fifth Avenue and Neiman Marcus store footprint to focus on profitable locations with the highest growth potential. The nine locations to be closed are part of the company’s first phase of its ongoing review of its store footprint.
“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,” Geoffroy van Raemdonck, CEO of Saks Global, said in a news release…