Saks Fifth Avenue on Palm Desert’s El Paseo to close amid bankruptcy
Luxury retailer Saks Global Saks is closing its Fifth Avenue Store in Palm Desert as part of brand restructuring.
The store, located at 73-555 El Paseo, is one of several Saks Fifth Avenue and Neiman Marcus locations to close nationwide. company Filed for bankruptcy and hired a new CEO In January.
The latest closure comes just weeks after the company announced it would close its discount stores. Affected Coachella Valley stores included Saks OFF 5TH stores located off Highway 111 in Palm Desert and Desert Hills Premium Outlets in Cabazon, as well as Neiman Marcus Last Call located at the Cabazon outlet mall.
“These actions are designed to advance Saks Global’s transformation focused on serving luxury customers, strengthening brand partner relationships, and promoting full-price sales to enable profitable and sustainable growth,” according to a statement from the company.
Existing gift cards will continue to be accepted at any closing location for 15 days after the closing sale begins, company officials said. After this period, gift cards will no longer be accepted at any closed location.
In a March 6 news release, Saks Global said it would close 12 Saks Fifth Avenue stores and three Neiman Marcus locations in 13 states. Other closures in California include Saks in Costa Mesa and Neiman Marcus in Canoga Park.
Even though it’s only been two months, 2026 has been a challenging year for Saks Global.
come back The company announced on January 14 It said it had filed for bankruptcy, changed its leadership (again) and secured a $1.75 billion financing package that “will strengthen the company’s balance sheet and position it for a strong and stable future.”
Saks Global said: February He noted that the company is “improving the footprint of its Saks Fifth Avenue and Neiman Marcus stores to focus on profitable locations with the highest growth potential.” The business attributed the closures to factors such as performance and “lease economics.”
USA TODAY contributed to this report.
Desert Sun reporter Ema Sasic contributed to this article.
This article first appeared in the Palm Springs Desert Sun: Saks Fifth Avenue stores in Palm Desert, Costa Mesa, Canoga Park closed
