Saks Fifth Avenue in Bala Cynwyd is closing
The expansive store off City Avenue has been in business for decades.
Saks Fifth Avenue will be closing its Bala Cynwyd location.
Saks Global, which owns Saks Fifth Avenue and Neiman Marcus, announced the impending closure in a news release Tuesday, a month after the luxury retailer filed for Chapter 11 bankruptcy.
As part of the company’s restructuring, it will also shutter seven other Saks Fifth Avenue stores, including at the American Dream mall in North Jersey, as well as a Neiman Marcus in Boston.
“Saks Global is refining its store footprint to focus on profitable locations with the highest growth potential,” company executives wrote in the release.
The expansive Saks Fifth Avenue off City Avenue has been open for decades. Over the years, it has become the brand’s only physical outpost in the region. It is referred to as “Saks Philadelphia” on the company’s website.
The company did not say when the store would close.
Saks Global also operates a Neiman Marcus at the King of Prussia Mall, which is not on the list of stores to close.
At the Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman stores that are not closing, the customer experience should not be impacted, according to the company.
Saks Off 5th discount outlets at the Franklin Mall in Northeast Philadelphia and at the Metroplex shopping center in Plymouth Meeting were already slated for closure before the bankruptcy filing, as was reported by several news outlets, including the Philadelphia Business Journal.
This is a developing story and will be updated.