Saks Global announced on March 6 another round of store closures, including the Saks Fifth Avenue at South Coast Plaza (SCP). Â
The parent of the luxury retailer filed for Chapter 11 bankruptcy on Jan. 14, listing nearly $2.5 billion in debt. Â
A report from January in Women’s Wear Daily, prior to the bankruptcy filing, cited the Saks SCP location as one of about a dozen “weaker locations” that were in jeopardy of being closed.Â
The store at the Costa Mesa shopping center runs about 103,000 sq. ft., according to CoStar records.Â
“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,” Saks Chief Executive Geoffroy van Raemdonck said in a statement. Â
The Neiman Marcus store at Fashion Island will remain open. Â
South Coast Plaza representatives could not be reached for immediate comment. Â
