Saks Global Enterprises said Tuesday it will close nine stores as it shifts its focus to more profitable locations.

The company said eight Saks Fifth Avenue locations and one Neiman Marcus store will close.

“By optimizing our operational footprint, we will be better positioned to deliver exceptional products, elevated experiences and highly personalized service across all channels, while simultaneously positioning our company to make investments that enable long-term growth and value creation,” Saks Global Enterprises CEO Geoffroy van Raemdonck said in a statement.

Shoppers leave a Saks Fifth Avenue store Dec. 30, 2025, in Chicago. (Scott Olson/Getty Images)

SAKS GLOBAL FILES FOR BANKRUPTCY AFTER $2.7 BILLION NEIMAN MARCUS ACQUISITION DEAL 

Saks Global Enterprises filed for Chapter 11 bankruptcy protection in mid-January in the U.S. Bankruptcy Court for the Southern District of Texas after missing a $100 million interest payment in December, adding to mounting debt obligations. 

Saks will ask a U.S. bankruptcy judge to approve the nine store closings at a court hearing Friday, the company said in a court document filed Tuesday.

After the filing, Saks Global announced it secured a financing commitment of approximately $1.75 billion backed by senior secured bondholders and asset-based lenders to support operations during the restructuring. 

Holiday shoppers walk outside the Saks Fifth Avenue flagship store in Manhattan in New York City Dec. 5, 2023.  (Reuters/Mike Segar/File Photo / Reuters Photos)

CONSUMER CONFIDENCE PLUNGES TO LOWEST LEVEL IN MORE THAN A DECADE

Saks Global announced last month that most Saks Off 5th locations across the U.S. would close, just weeks after its bankruptcy filing.  

The luxury retailer closed 23 of its Saks Off 5th stores Feb. 2, while another 34 held closing sales starting at the end of January. Only 12 locations in New York, Florida, New Jersey, Georgia, California and Texas will remain open.

MOST SAKS OFF 5TH LOCATIONS NATIONWIDE TO CLOSE AMID BANKRUPTCY PROCEEDINGS

Shoppers enter the Saks Fifth Avenue store on Fifth Avenue in New York Nov. 27, 2020. (Gabriela Bhaskar/Bloomberg via Getty Images / Getty Images)

Here’s which Saks Fifth Avenue stores are closing:

The Summit – Birmingham, Alabama

Polaris Fashion Place – Columbus, Ohio

American Dream – East Rutherford, New Jersey

Shops at Canal Place – New Orleans, Louisiana

Bala Plaza – Philadelphia, Pennsylvania

Biltmore Fashion Park – Phoenix, Arizona

Stony Point Fashion Park – Richmond, Virginia

Utica Square – Tulsa, Oklahoma

Here’s the Neiman Marcus store that’s closing:

Copley Place – Boston, Massachusetts

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FOX Business’ Greg Norman and Reuters contributed to this report.

Berkshire holds stakes in Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo.

The firms operate in a wide range of businesses, in areas such as chemicals, agricultural commodities, mining and consumer products.

Itochu stock was roughly flat Monday, but the others added between 3% and 5.3%—with each of the four notching new record closing highs, according to Dow Jones Market Data.

Berkshire first revealed it had taken positions in the quintet in August 2020, though stake building started about a year earlier. It has subsequently increased those holdings.

Since Berkshire first disclosed that it was investing in the trading firms, their shares have gained between 280% and 832%.

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“We expect implied volatility to pick up again,” Goldman Sachs’ Karen Fishman writes. She expects the USDJPY to move “towards and through 160.” In such a scenario, intervention risk rises. She expects markets “to proceed cautiously against elevated risk of intervention, but that can only last for so long.”

The Liverpool-based nutrition company, backed by JD Sports, has reported growth in sales since launching shares on the London stock markets in 2024

Coleen Rooney has increased her investment in Applied Nutrition as the wellness company seeks to appeal to a broader range of consumers, including working mothers.

The television personality and wife of former footballer Wayne Rooney has substantially increased her stake in the business, the firm confirmed. It is understood that Mrs Rooney has approximately doubled her holding, which remains beneath the 3% threshold that would require a publicly listed company to declare it to the London Stock Exchange.

The Liverpool-headquartered firm, which also counts retailer JD Sports amongst its backers, floated on the London stock markets in 2024 and has recorded sales growth since then.

Mrs Rooney was amongst the investors in the company’s flotation following her appointment as a brand ambassador for the group, though the exact size of her stake has never been publicly disclosed.

She is also the face of a range of products for Applied Nutrition, including collagen and powders designed to support sleep, immunity, hydration and reduce bloating.

Her participation has enabled the company to reach a wider demographic of customers, given that the sports nutrition sector is traditionally perceived as a more male-dominated industry.

Coleen Rooney said: “Nutrition and supplements have always been an important part of my fitness regime and had included Applied Nutrition products for many years before having the opportunity to create my own range. I am delighted with the range we have created together and look forward to expanding the range further.

“Combining a healthy lifestyle with exercise helps me feel good about myself and provides the energy required for a busy mum of four boys especially now that I have gone back to working on several projects and opportunities.

“Alongside being an ambassador for the business, I had the opportunity to invest in the company and couldn’t be happier with my decision as the business continues to grow. I am excited about the future of the company as it expands into new markets and products and have decided to invest further.

“I look forward to continuing to work alongside the board and the rest of the team and to be a part of the company’s future success.”

Applied Nutrition’s chief executive Thomas Ryder said: “Coleen embodies everything we are about – focus, passion for wellness and a commitment to the journey, as illustrated by her increasing her shareholding. Coleen has played an important role in broadening our customer base and increasing brand awareness among a wider, health-conscious audience.

“It is particularly rewarding to work alongside someone who is as passionate about health and wellness and believes in the long-term potential of the business as strongly as we do.”

The company primarily operates through business-to-business sales, distributing its products to retailers, supermarkets, fitness centres and sports clubs, catering to everyone from elite athletes to individuals pursuing weight loss goals.