Saks Global to shutter 15 more department stores in bankruptcy restructuring

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Saks Global to shutter 15 more department stores in bankruptcy restructuring

2026-03-07 07:15 Last Updated At：07:31

NEW YORK (AP) — The parent company of Saks Fifth Avenue and Neiman Marcus is closing more department stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring.

Saks Global Inc. said Friday it will close 12 more Saks Fifth Avenue stores and three more Neiman Marcus stores. The shuttered Saks stores include sites in Chevy, Chase, Maryland, Chicago and San Antonio, Texas. The stores will remain open until the end of May, a company spokesperson said.

The closures come on top of the eight Saks Fifth Avenue stores and one Neiman Marcus store it said it would close last month. The stores targeted for the first round of closing are expected to remain open until the end of April.

With plans to close a total of 24 department stores by spring, that would leave the parent company with 13 Saks Fifth Avenue stores — including its flagship store on Manhattan’s Fifth Avenue — as well as 32 Neiman Marcus locations and Bergdorf Goodman in New York City.

Saks also said 500 brands have resumed shipping, releasing close to $1.3 billion in retail receipts. That accounts for more than 80% of the inventory the company expects to receive from February through April, with momentum expected to continue, the company said.

The parent company is also in talks or has reached repayment agreements with about 175 suppliers.

Saks Global has been shrinking its business since it filed for Chapter 11 bankruptcy in January. Last month, it said it will wind down 14 standalone Fifth Avenue Club personal styling suites, keeping three.

It also shuttered home goods retailer Horchow.com, a business that Neiman Marcus acquired in the late 1980s. As of Feb. 19, shoppers have been redirected to the home category on NeimanMarcus.com.

It's also closing down all but 12 of its Saks Off Fifth locations The remaining outlets will serve primarily as a selling channel for residual inventory from Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.

Ireland scrapes past Wales in Dublin to stay in Six Nations title race

DUBLIN (AP) — Ireland scraped past Wales 27-17 and stayed in the Six Nations title race on Friday for at least 24 hours.

France can successfully retain the title by beating Scotland at Murrayfield on Saturday.

While Ireland won its first-ever Friday home championship match with a four-try bonus point, Wales took most of the plaudits.

Wales started as a 20-point underdog but was trailing by only two points as late as the 68th minute.

Wales hadn't beaten Ireland in Dublin in the championship in 14 years but Irish flyhalf Jack Crowley was made to kick a 77th-minute penalty to avoid the chance of a humbling draw.

Wales was second best in terms of territory and possession but backed up its three-point home loss to Scotland in the last round with magnificent defense, and an even better all-round show of commitment and progress.

Wales' Six Nations losing streak was extended to 15 games and it may yet finish the tournament with a third consecutive wooden spoon, but it was more encouragingly competitive against Ireland than coach Steve Tandy hoped for.

“We're disappointed but massive pride in our character,” Tandy said. “There's confidence building in the team and that is going to take us to the win in the near future.”

There was none of the fist-pumping joy by Ireland coach Andy Farrell during the record away win against England two weeks ago as his team failed to back that up with the expected big win over Wales.

“Credit to Wales, they were outstanding, certainly getting better defensively," he told broadcaster ITV. "They made it a scrap so to come away with a bonus-point, happy with that."

Wales didn't give Ireland the space on the outside that it enjoyed against England. Wales' rush defense, spearheaded by center Eddie James, frequently shut down Ireland attempts to go wide.

The defense was outstanding, especially on the tryline. Alex Mann made 28 tackles and two turnovers in his 22, Dafydd Jenkins added 27 tackles, James Botham 24 and Dewi Lake 23.

Ireland started impressively. Winger Jacob Stockdale ran off the shoulder of midfielder Stuart McCloskey, his Ulster clubmate, to score his first test try since 2021.

Ireland had two more attacks of at least a dozen phases in the first 20 minutes. But an Irish knock-on rubbed out a try for Jack Conan, and the second chance was turned over by Mann.

Holding out Ireland galvanized Wales.

Ireland took a half-hour to score again, through Crowley, who couldn't convert his own try.

The Irish looked set to reach halftime up 12-3. But Wales prop Rhys Carre, who was prevented from adding another tap penalty try that he managed against France and Scotland, made like a winger from 35 meters out and blew past three Irish for a brilliant try. Wales' leading try-scorer in the championship was even smiling before he scored.

"I saw some space and went as hard as I could and no one caught me,” Carre told ITV.

The Irish gave themselves breathing room on the scoreboard again when Conan scored from a tap penalty after halftime.

But Wales refused to bow down. Josh Adams botched a try chance throwing a forward pass to Botham but Botham scored off a ruck and Dan Edwards converted for 19-17.

It took a Joe McCarthy steal to launch the fourth Irish try walked in by fullback Jamie Osborne with 12 minutes to go. Wales lost scrumhalf Tomos Williams to the sin-bin and Crowley, who missed two easy goalkicks, made the result safe for Ireland with his only penalty.

AP rugby: https://apnews.com/hub/rugby