Saks Global said on Thursday it will close most of its Saks OFF 5th locations and all of its Neiman Marcus Last Call stores as part of its bankruptcy restructuring.
Saks has been financially crippled for months following its December 2024 $2.7 billion acquisition of rival Neiman Marcus Group, which saddled the company with tremendous debt. Things came to a head January 14 when the company filed for Chapter 11 bankruptcy.
In metro Atlanta, OFF 5TH stores at The Outlet Shoppes at Atlanta in Woodstock and Sugarloaf Mills in Lawrenceville are among the stores that will close. Strangely, the official list from Saks Global listed the stores as "Atlanta (Woodstock, GA)" and "North Atlanta (Woodstock,GA)" but that seems to have been a careless error.
The company previously closed an OFF 5TH store at North Georgia Premium Outlets in Dawsonville. Then as its own company, Neiman Marcus previously closed its Last Call store at Sugarloaf Mills and its "last call studio" store at Lenox Marketplace (now The Block at Phipps) in Buckhead
Buckhead Station, where the store occupies a portion of a former Toys R Us, will be the lone Atlanta area OFF 5TH store to remain open. Of the twelve other OFF 5TH stores that will remain open, six are in Florida.
Related: The "deals" at OFF 5TH weren't always as good as you might think.
For now, the company will also continue to operate its full-line Saks Fifth Avenue store at Phipps Plaza and its Neiman Marcus store at Lenox Square, both in Buckhead.
All of the Last Call closing sales begin January 31, and the Saks OFF 5th sales will start January 31 or February 2, depending on location.
Despite the closures, the off-price channel continues to thrive overall. ToNeTo Atlanta exclusively reported December 11 that a new Nordstrom Rack store is slated to open at Atlantic Station later this year in place of DSW, which closed January 24. Industry stalwart TJX Cos. is also expanding, having recently brought its Homesense store to metro Atlanta with a location in Alpharetta and plans to open both another Homesense and Sierra, in Buford near the Mall of Georgia in the months to come.
Are you surprised to see Saks close the majority of its off-price stores? What is your favorite off-price retailer? What would you like to see open in place of the two OFF 5TH stores that are closing in metro Atlanta?
Please share your thoughts below.
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