In a statement released this morning, Mayor Sam Adams announced the impending closure of the downtown Portland Saks Fifth Avenue stores
. The men's store will close on April 25, 2010, and the main store will close by July 31, 2010. Over the past year, Mayor Adams and Portland Development Commission Chair Scott Andrews met with the owners of Pioneer Place and Saks CEO Steve Sadove in an effort to keep the store here. They were unfortunately not able to overcome the combined force of Saks' lease expiring and the economy's body blows to luxury retail on a national level.
While this is certainly bad news for Saks employees and their families, Mayor Adams promises an announcement in the coming weeks about new retail offerings that he's confident "will excite Portlanders."
To read Saks Fifth Avenue's announcement, click here. Saks Fifth Avenue, 850 SW 5th Ave., (503) 226-3200.