In a reversal of earlier plans, the Saks Fifth Avenue store at The Mall at University Town Center will remain open after previously being slated for closure.
Saks Global, the New York-based parent company of Saks Fifth Avenue, confirmed the change following reports that the decision to close the Sarasota location had been reconsidered. The company indicated that the outcome followed recent lease renegotiations with mall owner Simon, which acquired Taubman in 2025. Benderson Development, based in East Manatee County, originally developed the mall in partnership with Taubman when it opened in 2014.
The Sarasota store had been included on a list released March 6 of approximately a dozen locations expected to close as part of broader restructuring efforts. Those plans came shortly after Saks Global filed for bankruptcy protection in January, reporting between $1 billion and $10 billion in debt. The company’s portfolio includes several luxury retail brands, including Neiman Marcus, Bergdorf Goodman, Saks Off 5th, Last Call, and Horchow.
Company officials stated that the decision to keep the Sarasota location open aligns with a strategy focused on maintaining a presence in markets with strong demand for luxury retail and the potential for sustained profitability.
The Saks Fifth Avenue store at University Town Center spans approximately 80,000 square feet and serves as one of the mall’s three anchor tenants. The shopping center also includes Macy’s and Dillard’s as major anchors. Positioned centrally within the mall, the Saks store sits near high-traffic destinations, including an Apple store and The Cheesecake Factory.
The Mall at University Town Center has remained a key retail hub in the Sarasota-Bradenton area since its opening, and the continued operation of Saks Fifth Avenue preserves one of its primary luxury retail offerings.
Smart decision. Sarasota area continues to grow with many big spenders!