- March 9, 2026
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Nearly 70 employees will be laid off due to the closure of Saks Fifth Avenue in The Mall at University Town Center. The store will be closing in May, according to a letter filed with the state in accordance with the Worker Adjustment and Retraining Notification Act (WARN).
“The entire facility will close and all employees will be separated from employment between May 6 and May 31," says the WARN letter, dated March 6.
The 66 layoffs will include 18 sales associates, 16 beauty specialists, six store merchandise associates, four Fifth Avenue Club personal shopping consultants, three specialized operations associates, three client development managers and several other positions.
Saks’ parent company, Saks Global, filed for bankruptcy in January and has been reducing its footprint in the months since. In February, the company announced eight Saks Fifth Avenue stores would shutter. On March 6, it added another 12 Saks Fifth Avenue stores to the list, including the 80,000-square-foot Sarasota location at UTC. It is the only Saks Fifth Avenue in Florida that is set to close.
Other Saks Fifth Avenue stores in Florida are in Naples, Bal Harbour, Boca Raton, Miami (which has two) and Palm Beach Gardens.
"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 Global CEO Geoffroy van Raemdonck says in a March 6 statement announcing the store closures.
Saks Global’s holdings include Saks 5th Avenue, Neiman Marcus, Bergdorf Goodman, Off 5th, Last Call and Horchow.
To optimize its footprint, the company is also closing four Neiman Marcus stores; the majority of its Off 5th locations; and all Last Call stores. Saks Off Fifth at Miromar Outlets in Estero will remain open. All Neiman Marcus locations in Florida, including one in Tampa, are set to stay open as well. Online high-end home furnishings retailer Horchow.com has transitioned to become a part of Neiman Marcus home.
