In a significant restructuring move, Saks Global has announced the closure of multiple Saks Fifth Avenue and Neiman Marcus locations as part of its ongoing bankruptcy proceedings. The closures will include iconic stores such as the long-standing Saks Fifth Avenue at Canal Place in New Orleans and its only store in Massachusetts. The retailer plans to shutter several stores across multiple states, including California, Alabama, and Pennsylvania, with significant layoffs expected. As the luxury retail chain consolidates its operations, nearly 60 Saks Off 5th stores are also set to close, underscoring the challenges facing the retail sector amid financial difficulties.