Dramatic Downsizing of the Saks Global Store Fleet Seen in a Bankruptcy

A Saks Global bankruptcy filing is expected by early-to-mid next week, with the struggling luxury retailer submitting a reorganization plan involving scores of store closures across the portfolio. “The plan will reduce the number of unproductive Saks Fifth Avenue, Neiman Marcus and Saks Off 5th stores,” said one source, who requested anonymity. More from WWD RELATED: Vendors Speak Out About Saks Global’s Potential Bankruptcy According to multiple sources, at least 20 Saks Fifth Avenue and Neiman Marcus ...