Saks Global has agreed to sell its Neiman Marcus location at the Willow Bend shopping center in Plano, Texas, with the store set to continue operating until January 2027. The transaction was confirmed by the company in an email statement.
The buyer, a developer that also acquired the mall’s Macy’s property last year following Macy’s closure announcements, is redeveloping the site into a mixed-use destination.
The center will be rebranded as The Bend and will feature residential, dining, and entertainment alongside retail.
“The sale was a mutual decision that allows the developer to bring its vision for the area to life, building on the retail foundation with the introduction of new residential, dining and entertainment uses,” a Saks Global spokesperson said.
“This also provides our company with the opportunity to strategically reinvest in areas of our business that drive growth and position the company for long-term success.”
Although Saks Global said earlier in 2025 it had no plans for widespread store closures, the company acknowledged Thursday that it continues to assess its fleet.
“There are currently no plans to reduce our store portfolio on a broader scale,” the spokesperson said, while noting that in some cases it “may determine it necessary to reformat or close a store.”
The Plano sale comes after a dispute with the City of Dallas earlier this year, when Saks Global attempted to shut its downtown Neiman Marcus store.
Following negotiations, including the city’s purchase of a parcel beneath the building, that location will remain open at least through the 2025 holiday season.
“Dallas-Fort Worth continues to be an important market for the company,” the spokesperson added.
“We are continuing to work in collaboration with the City of Dallas on a potential reimagination of the Neiman Marcus Downtown Dallas store, and are making great progress on the upcoming Neiman Marcus NorthPark transformation.”
As for the Willow Bend location, Saks Global said employees will be offered other opportunities within the region where possible, or provided with severance packages if relocation is not an option.
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