March 6 (Reuters) – Saks Global said on Friday it was closing 15 more stores as the luxury retailer, which filed for bankruptcy earlier this year, tries to cut losses and focus on more profitable, higher-end locations.
The company has largely completed the process of shutting down underperforming stores with Friday’s announcement, but was still working with some landlords to finalize its store count after weak sales led to the company defaulting on vendor payments and losing out on inventory as brands stopped shipping products last year, it said.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Sahal Muhammed)
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