Saks Global, the parent company of Neiman Marcus, has confirmed that the plans to close the Downtown Dallas store are final, despite ongoing efforts by the city to save the location. The company has criticized the city for making false and inaccurate statements to the media in an attempt to pressure them into changing their plans. Saks Global is now focusing on a $100 million renovation of the NorthPark Neiman Marcus location.
The city of Dallas has not responded to Saks Global’s statement, but it recently secured the deed to the land in hopes of keeping the downtown location. The Slaughter family, the landlord of the downtown location, has forced the closure effective March 31, 2025, after more than a decade of negotiations.
Neiman Marcus, founded in Dallas in 1907, has a long history in the city and is known for luxury items. The original downtown store was destroyed in a fire in 1913, leading to the opening of the current location. Despite filing for bankruptcy protection in May 2020, Neiman Marcus exited bankruptcy later that year.
The acquisition of Neiman Marcus by Saks Fifth Avenue, finalized in December 2024 for $2.7 billion, has brought about changes in the company’s strategic plans. The decision to close the downtown location is part of a broader strategy for growth and focus on the future of the brand. The ongoing dispute between Saks Global and the city of Dallas reflects the complexities of the situation and the push and pull of competing interests.
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