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 clothing retailer filed for Chapter 11 bankruptcy.
After decades in business, the expansive store along City Avenue is expected to close in April, according to a Saks Global spokesperson, who said decisions were based on several factors, including store performance and “lease economics.”
Fifty workers at the Bala Cynwyd Saks Fifth Avenue will lose their jobs effective April 11, according to a WARN Act filing with the Pennsylvania Department of Labor and Industry. Another 155 workers at a Wilkes Barre fulfillment center will be laid off, according to a separate filing.
As part of the company’s restructuring, it will 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 on its website, adding that the nine closures represented “the first phase of this ongoing review.”
The move will make the company “better positioned to deliver exceptional products, elevated experiences and highly personalized service across all channels,” CEO Geoffroy van Raemdonck said in a statement.
Over the years, the Saks Fifth Avenue in Bala Cynwyd has become the brand’s only physical outpost in the region. It is referred to as “Saks Philadelphia” on the company’s website, despite being located across the city line in a freestanding building at Bala Plaza.
The aging shopping center is in the process of being revamped into what developers are advertising as a “sanctuary for work, life and play,” with hundreds of new residential units.
Nearby on City Avenue, a standalone Lord & Taylor, which closed in 2021 amid the department store’s bankruptcy, is being converted into an apartment building.
Until recently, the longstanding Saks Fifth Avenue appeared primed to be part of the area’s future: In 2024, City Ave District, the nonprofit business development agency that straddles Lower Merion and Philadelphia, reported that business at the store was so strong that it had resisted offers to move to King of Prussia.
Once the Bala Cynwyd Saks Fifth Avenue closes, the nearest location will be in New York.
Saks Global also operates a Neiman Marcus at the King of Prussia Mall, which is not on the list of stores to close.
Saks Off 5th discount outlets at the Franklin Mall in Northeast Philadelphia and at the Metroplex shopping center in Plymouth Meeting recently closed. The winding down of those stores was announced before the bankruptcy filing, as was reported by several news outlets, including the Philadelphia Business Journal.
Elsewhere in the country, Saks Global is closing the majority of its standalone Fifth Avenue Club personal styling suites, the company said Tuesday.
In New York, Bergdorf Goodman, which Saks also owns, will remain open.
What Philly-area Saks customers should know
Shoppers at the Bala Cynwyd store will no longer be able to buy gift cards in person, according to Saks, and will have 15 days from the start of the closing sale to use existing gift cards.
Items that were bought before the closing sale can be returned or exchanged as usual, the company said, but purchases made during it will be final. Merchandise bought during the closing sale will also be ineligible for return or exchange at stores that are remaining open.
SaksFirst credit cards will still be accepted, according to the company, and customers with those credit cards will still earn points for purchases made in store. Shoppers will no longer be able to make in-person credit card payments or apply for credit cards at the Bala Cynwyd store.
At other Saks locations, including the King of Prussia Neiman Marcus, the company says the customer experience will remain unchanged.
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