Neiman Marcus’ Dallas flagship location will close on 31 March 2025, according to a press release from the parent company Saks Global.
The closure is due to instructions from a landlord to terminate the occupancy following a leasing dispute.
However, the Dallas consortium had resolved the leasing dispute, which would allow operations at Neiman Marcus to continue.
The statement released on 26 February said: “Following conversations over the past 24 hours with Mr. Stephen Rogers, the asset manager for the Slaughter family, we have reached an agreement for the land in question to be donated to the City of Dallas.
“This transaction secures the continued operations of the flagship Neiman Marcus store in Downtown.”
However, despite the agreement reached by the Dallas Consortium, plans to close the historical location are still in effect.
Saks Global reiterated its decision to close the location on 27 February following contrary media reports.
Ian Putnam, CEO of Saks Global Properties and Investments, said: “The claims that the store will remain open are misleading for the Dallas community, our store employees, and our brand partners.
“Saks Global inherited this lease issue from Neiman Marcus’ previous owners and worked in good faith to come to an agreement with the landlord, who chose to terminate our occupancy.”
“To date, Saks Global has not received any documentation regarding an agreement between Slaughter Partners and the City of Dallas and how this new agreement would affect the property, its other owners, and the store’s ability to operate.”
Moving forward, the luxury retailer plans to offer severance packages or transfer opportunities to affected employees.
The Neiman Marcus flagship store was founded in 1907 and was appointed a historical landmark by the City of Dallas.
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