Another Retailer Closing Nationwide, Including In Minnesota

This certainly isn't the first business to shutter stores nationwide and it probably won't be the last. Yet another retailer will be closing across the country and has already begun doing so.

This latest round of closings does impact Minnesota in a big way, as one of the locations getting the axe is right here. Saks OFF 5th is the latest business to make this move, just like so many others as of late.

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Last year saw a huge wave of retail closings. Everywhere from Kohl's to Nordstrom to Party City had to close underperforming locations. The way we shop is definitely changing and many now prefer to shop online from the comfort of their home.

Now, we can add Saks OFF 5th to the list. I never shopped there but I know a lot of people loved the store so this is a big bummer. Here's what to know.

What Is Saks OFF 5th? What To Know About The Retailer

The store sells discount designer clothing, handbags and jewelry from big name brands. Every single location is closing, but you can still shop their selection online at the moment. The store was big with people that loved the inventory at Saks Fifth Avenue but wanted expensive looks for less.

RELATED: New Business Opening In Cloquet This Month

The two stores are owned by the same parent company. Think what Nordstrom Rack is to Nordstrom. The store is closing because of bankruptcy restructuring, according to reports. Grab what you want while you still can.

Minnesota's Only Location Has Officially Closed As Of February

Bummer! The spot has officially closed as of earlier this month. It was the only location in Minnesota. It was located in Eagan at the Twin Cities Premium Outlets. I love the outlets so this is a big bummer!

RELATED: Eddie Bauer Closing Locations In Minnesota + Wisconsin

Another retailer is also closing operations all over the country. Reports from late last month say the store is closing every single location, which is another big loss for the retail world. Better shop until you drop while you can!