Overview
- The latest wave shutters 12 Saks Fifth Avenue and three Neiman Marcus locations across 12 states, including Chicago’s Magnificent Mile.
- Court filings set March 13 for the start of closing sales, with wind-downs staggered through late April and late May.
- The company projects a go-forward network of 13 Saks Fifth Avenue stores and 32 Neiman Marcus locations, with Bergdorf Goodman unchanged.
- Saks reports access to about $825 million from a $1.75 billion financing commitment, supporting resumed orders and operations during Chapter 11.
- More than 500 brands have restarted deliveries, unlocking nearly $1.3 billion in retail receipts as vendor relationships stabilize.