Columbus, OH, February 1, 2026
Saks Global is restructuring its operations, resulting in the closure of all Last Call stores and most Saks Off 5th locations across the country. This decision follows the company filing for Chapter 11 bankruptcy due to significant debt from its acquisition of Neiman Marcus, missed payments, and increased competition. The closures represent a strategic refocusing on luxury retail and full-price selling, as Saks Global aims to navigate its challenging financial landscape while remaining competitive in the luxury market.
Columbus: Saks Global Announces Major Off-Price Store Closures
The luxury retail giant Saks Global is undergoing a significant restructuring, leading to the closure of most of its discount Saks Off 5th and all Last Call stores across the nation, including a location in Columbus, Ohio, and notably impacting the Hilton Head/Bluffton area in South Carolina. This strategic shift underscores broader trends within the retail sector, emphasizing the necessity of adaptability and innovation in a competitive market.
The news of Saks Global Enterprises filing for Chapter 11 bankruptcy protection in mid-January in the U.S. Bankruptcy Court for the Southern District of Texas has set a notable precedent for large-scale retailers navigating modern economic complexities. This move by one of the world’s largest multi-brand luxury retailers reflects a challenging environment where even established brands must meticulously evaluate their operational strategies to ensure sustained growth. Local entrepreneurs and small businesses in areas like Hilton Head, SC, often face similar, albeit smaller-scale, pressures, highlighting the universal business truth that nimble adaptation is crucial for survival and prosperity.
The decision to wind down the majority of its off-price business, which includes Saks Off 5th and Last Call stores, is a clear signal of Saks Global’s renewed focus on its core luxury retail and full-price selling operations, such as Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman. This strategic realignment aims to drive “sustainable, profitable growth” in the post-bankruptcy landscape.
The National Scope of Closures
The restructuring plan involves significant nationwide closures. All five Last Call stores are slated to close. Furthermore, 57 out of the 69 Saks Off 5th locations across the United States will cease operations, leaving only a dozen stores nationwide to primarily serve as a channel for residual inventory from Saks Global’s full-price luxury chains. The SaksOff5th.com website, which was a separate business unit but 80% owned by Saks Global, will also be shut down. Closing sales commenced on Saturday, January 31, at some stores, with other locations closing on Monday, February 2.
Understanding the Financial Underpinnings
Saks Global’s bankruptcy filing emerged from a complex financial situation. A primary factor was the substantial debt burden accumulated from the $2.65 billion acquisition of Neiman Marcus in late 2024. The company faced challenges in managing this debt, evidenced by a missed $100 million interest payment in December and consistent late payments to vendors throughout 2025. These financial pressures, combined with a failure to invest adequately in the customer experience and increasing competition from brands shifting to direct-to-consumer (DTC) sales models, accelerated the need for a comprehensive restructuring.
Strategic Refocusing and Market Dynamics
The company’s leadership, under CEO Geoffroy van Raemdonck, is now tasked with steering Saks Global through this pivotal period. The decision to streamline operations and concentrate on the high-end luxury market reflects a broader industry trend where retailers are increasingly specializing to meet evolving consumer demands. This strategic shift is designed to better serve luxury customers and prioritize full-price selling across its premium brands. It emphasizes the competitive edge gained by businesses that can clearly define their market segment and allocate resources effectively.
Implications for Customers and Community
For customers, the closures bring changes to shopping habits and loyalty programs. Returns and exchanges for merchandise purchased before the closing sales will be accepted in accordance with the company’s usual policies. However, all items bought during the closing sales are designated as final sale. New gift cards are no longer being sold, but existing gift cards will be honored for 15 days after store closing sales begin, with a specified acceptance period until February 14 for online purchases and February 14 for in-store redemptions. Additionally, while new purchases will not earn rewards for loyalty program members, existing rewards can still be redeemed until March 1.
The impact of these nationwide closures extends to various communities, including a Saks Off 5th store in Columbus, OH. For the Hilton Head SC business community and Beaufort County economy, the closure of the Saks Off 5th store in the nearby Bluffton area represents a change in the retail landscape. While the immediate effect might be felt by employees and local shoppers, such shifts often open avenues for new entrepreneurial innovation and specialized small-business resilience to flourish, adapting to the changing needs of the community.
The Path Forward for Hilton Head Economic Growth
In the face of nationwide retail shifts, the resilience of local economies like Hilton Head remains a testament to the spirit of South Carolina SC entrepreneurs. While large corporate strategies like Saks Global’s restructuring are driven by complex financial decisions and market repositioning, local communities can thrive by fostering an environment that encourages new ventures and supports existing Hilton Head small business initiatives. Reduced regulatory burdens and a focus on private investment can often accelerate this growth, allowing local businesses to fill market gaps and cater directly to community preferences, ultimately strengthening the overall Hilton Head economic growth.
The evolution of retail models, seen in Saks Global’s pivot from off-price to core luxury, serves as a reminder that the business landscape is in constant flux. For Hilton Head and its vibrant community, this ongoing transformation underscores the importance of a dynamic local economy, supported by innovative businesses and engaged residents.
Support Local
As the retail sector continues to evolve, supporting local businesses in Hilton Head becomes even more vital. Engage with your community’s entrepreneurs and explore the unique offerings that drive the local Beaufort County economy. Stay informed and actively participate in shaping Hilton Head’s economic future.
Frequently Asked Questions About Saks Global’s Closures
- Why are Saks Off 5th and Last Call stores closing nationwide?
- Saks Global Enterprises, the parent company, filed for Chapter 11 bankruptcy protection in mid-January in the U.S. Bankruptcy Court for the Southern District of Texas. This decision was largely driven by a substantial debt burden from the $2.65 billion acquisition of Neiman Marcus in late 2024, coupled with missed interest payments and issues with vendor payments throughout 2025. Additionally, the company cited challenges such as inventory missteps, increased competition from direct-to-consumer (DTC) brands, and insufficient investment in enhancing the customer experience. The closures are part of a strategic refocusing on luxury retail and full-price selling across its core luxury brands.
- How many Saks Off 5th and Last Call stores are closing nationwide?
- All five Last Call stores are closing nationwide. Additionally, a majority of Saks Off 5th locations, specifically 57 out of 69 stores nationwide, are set to close. A dozen Saks Off 5th stores will remain open nationwide.
- Is the SaksOff5th.com website also closing?
- Yes, the SaksOff5th.com website will also shut down. While the website was established as a separate business unit in 2021 and is not directly part of Saks Global’s bankruptcy, the parent company holds an 80% ownership stake in it.
- When will the store closings and sales take place?
- Closing sales began Saturday, January 31, at some locations, with others scheduled to cease operations on Monday, February 2.
- What are the policies regarding returns, gift cards, and rewards programs during the closures?
- Returns and exchanges for merchandise purchased before the closing sales will be accepted according to the company’s standard policies. However, all merchandise bought during the closing sales will be considered final sale. New gift cards are no longer available for purchase, but existing gift cards will be honored for 15 days after the closing sales commence, with a deadline of February 14 for online purchases and February 14 for in-store redemptions. For loyalty program members, new purchases will not accrue rewards, but existing rewards can be redeemed until March 1.
- Which major cities or regions are affected by these closures nationwide?
- Affected locations include stores in Columbus, OH; Charleston, SC; Hilton Head/Bluffton, SC; Mebane, NC; Grand Prairie, TX; Honolulu, HI; Petaluma, CA; Glendale, AZ; Tucson, AZ; Merrimack, NH; Riverhead, NY; Clinton, CT; North Atlanta (Woodstock, GA); Aurora Chicago, IL; Dallas Park, TX; Northbrook, IL; Eagan, MN; and San Diego, CA. The closures are part of a nationwide strategy.
Key Features of Saks Global’s Restructuring
| Feature | Details | Scope |
|---|---|---|
| Company Status | Filed for Chapter 11 bankruptcy protection in mid-January. | Nationwide |
| Reason for Bankruptcy | Heavy debt from Neiman Marcus acquisition (2024), missed interest payments, vendor payment issues, inventory missteps, DTC competition, lack of customer experience investment. | Nationwide |
| Strategic Shift | Refocusing on luxury retail and full-price selling. | Nationwide |
| Last Call Stores | All 5 Last Call stores are closing. | Nationwide |
| Saks Off 5th Stores | 57 out of 69 stores closing; 12 remaining to sell residual luxury inventory. | Nationwide |
| SaksOff5th.com | Website is shutting down. | Nationwide |
| Closing Sales Start | Began Saturday, January 31, at some locations. | Nationwide |
| Return Policy (Pre-Sale) | Accepted per usual company policies. | Nationwide |
| Return Policy (Closing Sale) | All sales are final. | Nationwide |
| Gift Card Acceptance | Existing gift cards accepted for 15 days after sales begin (until Feb 14 for online and in-store). | Nationwide |
| Loyalty Rewards | Existing rewards redeemable until March 1; no new rewards earned. | Nationwide |
| Affected Cities | Includes Columbus, OH; Hilton Head/Bluffton, SC; Charleston, SC, among others. | Nationwide |
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