Historic Retailer Closing Its Last Remaining Stores in NJ, NY, and PA

Historic Retailer Closing Its Last Remaining Stores in NJ, NY, and PA

When you can establish an iconic brand that sets itself apart and has name recognition, you have done something successful in the business world. Brands like Coke, Ford, Apple, etc. are good examples of what it is to have a fantastic "brand".

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This iconic "brand," which is well known in the clothing industry, began over 100 years ago (1924), and now, that historic retailer is going to close its remaining stores, including locations in New Jersey, New York, and Pennsylvania.

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According to their website, "Saks Fifth Avenue was the brainchild of Horace Saks and Bernard Gimbel, who operated independent retail stores on New York's 34th Street at Herald Square in the early 1900s. Their dream was to construct a unique specialty store that would become synonymous with fashionable, gracious living."

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In a recent article by The Street, the parent company of Saks 5th Avenue and Saks Off 5th will be closing its remaining locations by June 15th. "In March, Hudson's Bay said it would permanently close 73 stores, two Saks Fifth Avenue stores, and 13 Saks Off 5th stores. It also filed for the Canadian version of Chapter 11 bankruptcy. Hudson's Bay had hoped to continue running six stores, including a Saks Fifth Avenue, but has since run into trouble."

Saks 5th Avenue has a location in East Rutherford, New Jersey. Saks Off 5th has locations in New Jersey, Elizabeth, Paramus, Shrewsbury, Bridgewater, and East Hanover.