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All but one of the five Saks OFF 5th stores in New Jersey are set to permanently close as part of its parent company’s bankruptcy restructuring.

In a Jan. 29 announcement, New York City-headquartered Saks Global Enterprises said the following local stores are among the 57 locations winding down in coming weeks:

• Bridgewater Chimney Rock Crossing
• Shrewsbury Shrewsbury Plaza
• Elizabeth The Mills at Jersey Gardens

The off-price retailer will begin closing sales Jan. 31, Saks Global said. Additionally, markdowns will begin Jan. 30 on saksoff5th.com ahead of the site’s shutdown.

Saks Global will also shutter the five remaining locations of Neiman Marcus outlet entity Last Call.

According to a notice filed with the New Jersey Department of Labor & Workforce Development, Saks Global plans to lay off 69 workers across the state by May 4.

Going forward, the company aims to keep 12 Saks OFF 5th outposts open. That list includes the one at Bergen Town Center in Paramus.

The decision to close the majority of Saks OFF 5th retail locations and all Last Call stores stemmed from “a thorough review of its off-price business,” Saks Global said.

The announcement comes weeks after Saks Global filed for Chapter 11 bankruptcy protection.

‘Taking decisive steps’

As part of the process underway in U.S. Bankruptcy Court for the Southern District of Texas, the parent company of Saks Fifth Avenue said it hopes to reposition the existing operational footprint for success.

The filing came less than a year after the company bought rival luxury retailer Neiman Marcus in a heavily financed $2.7 billion deal. However, even prior to acquisition, Saks had struggled with a broader slowdown in the luxury market.

Besides Saks Fifth Avenue, Saks OFF 5th and Last Call, the company’s banners of in-store and online brands include Marcus, Bergdorf Goodman and Horchow.

In a statement, Saks Global CEO Geoffroy van Raemdonck said the company is “taking decisive steps to realign our business to better serve our luxury customers and drive full-price selling across our core luxury businesses.”

“With these actions, we will be well positioned to seize the greatest opportunities for long-term growth and value creation. We sincerely thank our Saks OFF 5TH and Last Call colleagues for the important role they have played in serving our loyal customers,” he said.

Saks Global noted that it continues to access an initial tranche of $500 million of the $1.75 billion in committed capital. The fund will support operations and transformation initiatives. Resources will also go toward go-forward payments to brand partners as well as boosting inventory flow across its full-price retail brands.

Editor’s note: This story was updated at 3:09 p.m. Jan. 30, 2026, to include information about layoffs.