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Saks Fifth Avenue will permanently close its Tysons Galleria location, ending the department store’s nearly four-decade run as an anchor of the McLean mall.
The store is one of 12 Saks Fifth Avenue locations slated to shut down during the fashion retailer’s ongoing bankruptcy restructuring. A Saks Global spokesperson said the affected stores will remain open through the end of May.
The closures also include a Saks Fifth Avenue at The Collection in Chevy Chase, Maryland.
Saks Fifth Avenue was among Tysons Galleria’s original anchor stores when the mall opened in 1988. Neiman Marcus, another original anchor, remains open, while Macy’s closed its location in 2019.
The parent company plans to close 24 department stores nationwide by spring. After the restructuring, it expects to operate 13 Saks Fifth Avenue stores, including the flagship on Manhattan’s Fifth Avenue, along with 32 Neiman Marcus locations and Bergdorf Goodman in New York City.
The company also said 500 brands have resumed shipments, unlocking nearly $1.3 billion in retail receipts. Those shipments represent more than 80% of the inventory Saks expects to receive from February through April, and the company said it anticipates continued momentum.