Apr 1, 2010

Saks to Close Portland Stores

The rumors are true. Saks Inc. is closing its regular and men’s stores in Portland, Oregon. Saks expects to shut the 23,000-square-foot men’s store in the Pioneer Place Mall on April 25 and the 60,000-square-foot main store in the center by July 31. Women’s Wear Daily reports that about 100 employees will be affected and Saks said they would be offered transfer opportunities or receive appropriate severance packages. “It wasn’t a great fit with Portland even before the economy,” said Julia Bentley, a Saks spokeswoman, adding that the store’s lease expired this year and that it wasn’t meeting the company’s “profitability standards.” Sak’s may stay in the area by opening up a Sak’s Off Fifth discount store in Bridgeport Village but that is still unconfirmed.

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