Saks Incorporated announced it intends to close its 24,000 square foot Saks Off 5th store located in the Fairlane Town Center in Dearborn, Michigan by December 31, 2007.
Approximately 15 regular full-time and part-time associates are employed in the store. All affected associates either will be offered transfer opportunities or will receive appropriate severance packages.
Robert Wallstrom, President of Off 5th, noted, "Closing the store is the right business decision, although a difficult one to make. We are very appreciative of the great Fairlane Town Center store team, and we are committed to providing needed assistance to our associates during this period."
The Company also operates a Saks Fifth Avenue store in Troy, Michigan and a Saks Off 5th store in Auburn Hills, Michigan.
Saks Incorporated operates Saks Fifth Avenue which consists of 54 Saks Fifth Avenue stores, 49 Off 5th stores, and saks.com. The Company also operates Club Libby Lu specialty stores.
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