Two Saks Off 5th stores in Stamford and Clinton are closing as part of Saks Global Enterprises’ plan to shut 57 of its 69 stores nationwide.
The two Connecticut locations, along with 21 other stores across the country, are closing today, according to the company. Closing sales are underway at another 34 Saks Off 5th stores and five Last Call locations nationwide.
The Stamford store was in a 153,000-square-foot shopping center at 110 High Ridge Road. Westport-based Zelco Properties & Development acquired the center for $62 million late last year with an institutional real estate private equity partner and a retail-focused operating partner.
Saks said in mid-January that it filed for Chapter 11 bankruptcy protection and secured $1.5 billion in financing from an ad hoc group of its senior secured bondholders, along with about $240 million in additional liquidity from asset-based lenders.
Online retailer saksoff5th.com, a separate legal entity from Saks Global, has begun winding down operations.
