Saks Global operates 70 Saks Off 5th locations and plans to shutter all but 12 stores, the company said Thursday. Saks Global also said it will wind down Saksoff5th.com, a separate legal entity from Saks Global. Consequently, Saks Global said it will move away from purchasing merchandise directly for Saks Off 5th. Saks Global on Saturday will begin going-out-of-business sales at certain Saks Off 5th locations, subject to bankruptcy approval, and all Last Call locations. Saks Global, which also operates Bergdorf Goodman, secured roughly $500 million of the broader $1.75 billion financial package.