The news comes less than a year after Neiman Marcus’ merger with Saks Fifth Avenue and shortly after the announcement of the closing of their CityPlace offices.
DALLAS — The iconic downtown Dallas Neiman Marcus department store is closing after more than a century, company officials said Tuesday.
The news comes less than a year after Neiman Marcus’ merger with Saks Fifth Avenue and the same week the company confirmed that Neiman’s offices at CityPlace are closing.
A spokesperson for Saks Global, which the combined company was named after closing a $2.65 billion deal to buy the Dallas-based Neiman Marcus last year, said the store at 1618 Main Street is closing after failing to come to an agreement with their landlord to remain there after a decade of negotiations.
The downtown Dallas store, which has been a fixture of the downtown landscape since 1914, will close March 31, a spokesperson confirmed in a statement. The spokesperson says affected employees will be offered transfers to nearby Neiman Marcus stores when possible.
“This location has been a beloved institution in the community for more than a century, and we are disappointed to be losing a piece of Neiman Marcus history,” Saks Global said in a statement. “Dallas is an important market for us, and we remain highly committed to upholding Neiman Marcus’ legacy there.”
Saks Global says in a statement that they plan to spend $100 million on renovations to the NorthPark store.
Saks Global announced earlier this week that it’s closing its Dallas office at CityPlace Tower in the Uptown area “after conducting a review of site usage and lease agreements.”
The company said it’s consolidating all of its corporate headquarters — across brands — into its offices in Brookfield, New York, and closing its former Neiman Marcus corporate hubs in New York City and in Dallas.
NexPoint, the company that owns the CityPlace building, argued in its own statement to WFAA that it doesn’t believe Neiman Marcus’ lease could be ended that easily and is working to negotiate a path forward.
WFAA’s content partners at the Dallas Business Journal reported in 2022 that Neiman Marcus Group received a $5.25 million economic development grant agreement from the City of Dallas for its headquarters in CityPlace Tower and to prevent the brand from moving offices to nearby suburbs.
According to a statement from a spokesperson, the City of Dallas “is monitoring discussions between [Neiman Marcus] and the landlord, and in the event of a default, the City has the right to seek to recapture the permitting fee reimbursements paid to date and [Neiman Marcus] would forfeit all remaining incentives.”
Neiman Marcus, which has been an iconic part of Dallas’ cultural fabric for more than 100 years, was founded in 1907 by Abraham Lincoln “Al” Neiman, his wife Carrie Marcus Neiman and his brother-in-law Herbert Marcus Sr.
Their original store location was at the intersection of Elm Street and North Field Street. But the building burned down in 1914 in a fire, and by the end of the year, the company opened in a new location at Main Street and Ervay Street, where it’s remained until it closes in March.
