“HGAR will continue to advocate for policies that promote housing opportunity, protect property rights, and support a fair, transparent, and functional housing market for everyone.”
The congestion pricing program was instituted in January 2025 and during its first year in operation, congestion pricing raked in more than $550 million for the MTA’s $15-billion capital program.
NEW YORK—Saks Global Enterprises LLC, the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, announced on March 6 an additional 15 store closures, including the Neiman Marcus location in Downtown White Plains at The Westchester mall.
Saks Global, which filed for bankruptcy protection in January 2026, has reportedly been having cash flow problems since its acquisition of Neiman Marcus in 2024. Although no firm store closure date was released, several published reports indicate the White Plains Neiman Marcus is expected to shut its doors for good sometime in May.
The company announced a total of 12 Saks Fifth Avenue store closings and three Neiman Marcus closures. The only other store closure announced on March 6 in the New York metro region is a Saks Fifth Avenue store in Huntington Station on Long Island. Last month, Saks Global reported it would close eight Saks Fifth Avenue locations, including its store at the American Dream mall in East Rutherford, NJ, and one Neiman Marcus location in Boston.
“This strategic optimization is part of our ongoing transformation and rooted in our long-term view of our business,” said Geoffroy van Raemdonck, Chief Executive Officer of Saks Global. “Our go-forward store portfolio will comprise the best performing and most desirable locations in markets with the highest concentration of luxury customers, enabling us to deepen loyalty and drive sustainable growth.”
He added, “We recognize the impact these strategic decisions have on our colleagues and are deeply grateful for their contributions. We are supporting the impacted teams as much as we can through this transition and will provide transfer opportunities where available.”
Company officials stated that it has largely completed the optimization of its footprint but continues to engage with landlords as it works to make final decisions on its “go-forward network of stores.” Saks Global reported that it has experienced significant acceleration of inventory flow, with shipping resumed by more than 500 brands releasing close to $1.3 billion in retail receipts and has reached or nearly reached agreements with more than 175 brands across all categories.
“HGAR will continue to advocate for policies that promote housing opportunity, protect property rights, and support a fair, transparent, and functional housing market for everyone.”
The congestion pricing program was instituted in January 2025 and during its first year in operation, congestion pricing raked in more than $550 million for the MTA’s $15-billion capital program.
The 1.15 million-square-foot retail center, which originally housed 30 stores when it opened in 1954, is now home to more than 100 retail, dining, educational and entertainment venues.
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