Hanover, Maryland, February 1, 2026
Saks Global has announced the closure of two Saks Off 5th stores located in Hanover and Clarksburg, leading to a loss of 31 jobs. The closures are part of a restructuring strategy following the company’s Chapter 11 bankruptcy filing. Liquidation sales will commence ahead of the final closures set for April 30. Local consumers can redeem gift cards until February 14, while returns for prior purchases will be processed as usual. This decision underscores the challenges facing traditional retailers amid shifting consumer behavior towards online shopping.
Hanover, Maryland – Saks Global has made the difficult decision to close two Saks Off 5th stores in Maryland, resulting in the loss of 31 jobs. Affected store locations include Arundel Mills Mall in Hanover and Clarksburg Premium Outlets in Montgomery County. Liquation sales will commence this weekend, with closures set for April 30.
This move reflects Saks Global’s ongoing strategy to restructure operations amid a Chapter 11 bankruptcy reorganization. The company has announced plans to shutter the majority of its Saks Off 5th and Last Call stores, leaving only 12 Saks Off 5th locations operational nationwide. These remaining stores will primarily serve as outlets for residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, rather than introducing new merchandise.
These closures are part of a broader trend impacting traditional retailers who are navigating the changing dynamics of consumer shopping behavior and financial pressures within the market. Saks Global’s decision to close 57 Saks Off 5th stores and all five Last Call locations comes after significant financial challenges, including a $100 million missed interest payment in December 2025, ultimately leading to their bankruptcy filing.
Local consumers holding existing gift cards will still have the opportunity to redeem them until February 14, and return and exchange policies for merchandise purchased prior to the closing sales will remain intact. The debt incurred from Saks Global’s acquisition of Neiman Marcus in 2024 has contributed to the pressure forcing this restructuring.
The closures at these stores highlight the delicate balance between maintaining brick-and-mortar retail and adapting to a market increasingly leaning toward online shopping. Despite these setbacks, small businesses in Maryland continue to display remarkable resilience, with many local entrepreneurs pivoting and innovating to meet consumer demands in a more digital economy.
Impact of the Store Closures
The decision to close stores in Maryland brings some immediate impact to the local community. Affected employees, numbering 31, are faced with unexpected job losses as a result of the store closures. This move spots a significant area for discussion on how the evolving retail landscape challenges job stability within the community.
The Bigger Picture for Retail
Saks Global’s closures signal a major shift towards focusing on core luxury brands instead of off-price retail. The evolving marketplace continues to demand adaptability from retailers as they seek to capture consumer attention and align operational strategies with the habits of modern shoppers.
Community Resilience and Entrepreneurial Spirit
While larger retail giants face significant restructuring challenges, local entrepreneurs in Baltimore and across Maryland continue to thrive through innovation and community engagement. Many small businesses are harnessing the power of local connections and adaptability to stay afloat, showcasing the strength of the Maryland small business landscape.
Conclusion
The recent closures of Saks Off 5th stores in Hanover and Clarksburg reflect not only the struggles faced by major retailers in a transforming market but also highlight both the vulnerabilities and the resilience of the local workforce. As local communities grapple with these changes, it serves as a reminder to support small businesses and innovative entrepreneurs who are vital to Maryland’s economic growth and durability. Local engagement remains crucial as we navigate the intersection of retail evolution and community strength.
Frequently Asked Questions (FAQ)
Which Saks Off 5th stores in Maryland are closing?
The Saks Off 5th stores at Arundel Mills Mall in Hanover and Clarksburg Premium Outlets in Montgomery County are closing, resulting in the loss of 31 jobs. Both stores will begin liquidation sales this weekend, with final closures scheduled for April 30.
Why is Saks Global closing these stores?
Saks Global is closing these stores as part of a broader strategy to restructure its operations amid a Chapter 11 bankruptcy reorganization. The company plans to close the majority of its Saks Off 5th and Last Call stores, leaving only 12 Saks Off 5th locations operational nationwide. These remaining stores will primarily serve as outlets for residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, rather than purchasing new merchandise.
What is the timeline for the store closures?
The affected stores will begin liquidation sales this weekend, with final closures scheduled for April 30.
Can customers still use their gift cards at the closing stores?
Customers with existing gift cards can redeem them through February 14. Returns and exchanges for merchandise purchased before the closing sales will be accepted in accordance with the company’s usual policies.
What led to Saks Global’s decision to close these stores?
The closures are part of Saks Global’s broader strategy to focus on its core luxury brands amid financial challenges, including a $100 million missed interest payment in December 2025, leading to the bankruptcy filing. The company has been burdened with debt following its acquisition of Neiman Marcus in 2024, prompting the need for restructuring to stabilize operations.
How many Saks Off 5th stores are remaining after the closures?
After the closures, Saks Global will have 12 Saks Off 5th locations operational nationwide. These remaining stores will primarily serve as outlets for residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, rather than purchasing new merchandise.
Key Features of the Store Closures
| Feature | Details |
|---|---|
| Number of Stores Closing | 57 Saks Off 5th stores and all five Last Call locations nationwide |
| Remaining Saks Off 5th Locations | 12 stores operational nationwide |
| Closure Timeline | Liquidation sales begin this weekend; final closures scheduled for April 30 |
| Impact on Maryland | Two stores closing, resulting in 31 job losses |
| Customer Information | Gift cards redeemable through February 14; returns and exchanges accepted for purchases made before closing sales |
Deeper Dive: News & Info About This Topic
HERE Resources
Saks Global Files for Bankruptcy: A Challenge for Maryland Retail
Maryland Retailers Plan Significant Store Closures
Author: STAFF HERE BALTIMORE WRITER
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