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Saks Fifth Avenue will permanently close its Tysons Galleria store after nearly four decades, ending the luxury retailer’s run as one of the mall’s original anchors.
The Tysons location is among 12 Saks Fifth Avenue stores being shuttered during parent company Saks Global’s Chapter 11 bankruptcy restructuring. The affected stores, including another at The Collection in Chevy Chase, are expected to remain open through the end of May.
Three Neiman Marcus stores will also close, though none are in the Washington, D.C., area.
A Saks Global spokesperson said the locations were selected after considering factors such as performance and customer preferences. The company said the closures are intended to streamline operations, strengthen full-price sales and concentrate investment on serving luxury shoppers.
Saks Global filed for Chapter 11 bankruptcy in the Southern District of Texas on Jan. 13.
Signs of possible change at the Tysons store emerged months earlier. A letter sent to the Fairfax County Department of Planning and Development last August requested zoning information for “the former Saks 5th Ave” at 2051 International Drive.
When questioned about the letter in November, Saks representatives said the inquiry was part of a potential lender’s due diligence and was unrelated to any planned closure or sale.
Saks Fifth Avenue opened at Tysons Galleria with the mall in 1988. Its fellow original anchors included Neiman Marcus, which remains at the property, and Macy’s, which closed in 2019.
The departure follows other notable losses for the mall. The Cheesecake Factory and Maggiano’s both moved to the larger Tysons Corner Center. Meanwhile, Tysons Galleria owner Brookfield Properties has made progress refilling the mall’s third-floor food hall.
Brookfield Properties did not immediately comment on its plans for the approximately 41,399-square-foot space occupied by Saks.
The latest announcement follows plans disclosed last month to close eight other Saks Fifth Avenue stores and one Neiman Marcus location. Those stores are expected to stay open through the end of April.
Altogether, Saks Global plans to close 24 department stores by spring. The restructuring would leave it with 13 Saks Fifth Avenue stores, including the Manhattan flagship on Fifth Avenue, along with 32 Neiman Marcus locations and Bergdorf Goodman in New York City.
The company said 500 brands have resumed shipments, unlocking nearly $1.3 billion in retail receipts. That represents more than 80% of the inventory Saks Global expects to receive from February through April. It is also negotiating with or has reached repayment agreements with roughly 175 suppliers.
Saks Global has continued reducing its footprint since entering bankruptcy. It plans to wind down 14 standalone Fifth Avenue Club personal-styling suites while retaining three.
The company also closed Horchow.com, the home-goods business acquired by Neiman Marcus in the late 1980s. Since Feb. 19, visitors have been redirected to the home section of NeimanMarcus.com.
All but 12 Saks Off Fifth locations are closing as well. The remaining outlets will primarily sell residual inventory from Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.