NEW ORLEANS — Saks Global Enterprises announced the impending closure of its Saks Fifth Avenue store in downtown New Orleans, slated for April 2026. This decision coincides with the company’s broader restructuring efforts while navigating Chapter 11 bankruptcy.

The Saks location on Canal Street, a fixture since the early 1980s, played a pivotal role in the city’s recovery following Hurricane Katrina. It was among the first major retailers to reopen downtown, becoming synonymous with the region’s revitalization. Situated within Canal Place, the store has long served as a key shopping destination.

Saks Global’s decision entails shutting down nine locations overall, including eight Saks Fifth Avenue stores and a single Neiman Marcus in Boston. The closures are driven by profitability concerns, particularly in markets deemed too small to sustain full-priced retail operations. The company seeks judicial approval to proceed with the closures, which follow recent shut-downs of several Saks OFF 5TH and Neiman Marcus Last Call outlets.

Local retailers have expressed apprehension over the potential impacts of the Saks closure. Merchants in Canal Place worry that diminished foot traffic could lead to decreased sales and job losses in the surrounding area. Recent exits, including Chanel earlier this year and Anthropologie’s relocation to Lakeside in November, have contributed to these concerns.

In addition to the store closures, Saks is also scaling back its Fifth Avenue Club styling services and will transition its Horchow home décor brand to an online-only format. This strategy aims to streamline operations, reduce debt, and cater to a growing shift toward online shopping, reflecting a broader trend in the retail industry.

Following the New Orleans store’s closure, customers will still have the option to shop for luxury brands and access personalized styling services online at Saks.com. Despite the physical storefront shutdown, Saks is keen on maintaining its connection with customers through digital channels.

The company emphasized in a recent statement that the decision to close specific locations was a result of exhaustive evaluations concerning performance and lease agreements. As Saks Global navigates this challenging period, it aims to reposition itself for future growth, honing in on its most successful operations while adapting to consumer preferences.