DENVER (CBS4) – Saks Incorporated on Wednesday announced plans to close its Saks Fifth Avenue store in the Cherry Creek Mall.

The CEO of the company said the decision to close the store was done because the store was underperforming.

The company stated in a news release that the store will close on March 19 and that the 100 employees “either will be offered transfer opportunities or will receive appropriate employment separation packages.”

The Denver store opened with the Cherry Creek Mall in 1990 and was one of the original anchor stores along with Neiman Marcus and Lord & Taylor. It has remained the only Saks Fifth Avenue store in the state in the years since then.

Saks has closed seven stores around the country since July 2010.