Neiman Marcus makes final decision to close Downtown Dallas flagship store on March 31
The decision to permanently close Neiman Marcus' flagship location in Downtown Dallas is final, the department store's corporate parent said Tuesday. The historic retailer is slated to close on March 31.
In a statement on Tuesday, a Saks Global Operating Group spokesperson said:
"The Dallas Consortium's ongoing tactic of using the press to pressure us into changing our strategy in Dallas is highly unproductive. Even after our corrections to their previous false statements, they continue to go to the press, making inaccurate claims. Our decision to close the Neiman Marcus Downtown Dallas store is final and we are moving forward as such."
Push to save Neiman Marcus
Last week, a consortium led by Downtown Dallas Inc. announced that a parcel of land on which the historic Neiman Marcus flagship building stands will be donated to the city when the department store's ground lease expires, a move it said would ensure the store's continued operations.
However, Saks refuted those claims and addressed the "false rumors" on Thursday. Saks said it was willing to consider the consortium's perspective, but several attempts to connect with Dallas City Manager Kimberly Tolbert were denied, the statement read.
A spokesperson for Saks said the situation is "far more complicated" than the public has been led to believe and noted that problems have been brewing for over a decade.
"We are committed to growth, and are focused on Neiman Marcus' future in Dallas," the spokesperson added. "That future is at the NorthPark store, where we are planning a $100 million renovation."
Members of the consortium held a press conference Tuesday calling on Saks to honor its request for a sit-down meeting.
"We hope that Saks will live up to its word and come and meet with the consortium in person. Otherwise, I am personally happy to lead a delegation to New York City for a productive meeting," Dallas City Manager Kimberly Bizor Tolbert said in a statement read by Jennifer Scripps, the President and CEO of Downtown Dallas Inc.
Saks Global previously confirmed that eligible employees received transfer opportunities and separation packages.
Saks Global announced in a previous release that multiple attempts to reach a commercially reasonable agreement with one of the Downtown store landlords, Slaughter Partners, dates back to as early as 2011 and as recently as December 2024.
According to Saks, in November 2024, the leadership of NMG sought assistance from the City of Dallas; however, their efforts to negotiate the lease were unsuccessful. NMG leadership then attempted to purchase the land from Slaughter Partners, but no price was offered.
Slaughter Partners terminated Neiman Marcus' occupancy when the lease expired, Saks said.
Neiman Marcus history
CBS News Texas reported on Feb. 18 that Neiman Marcus received a notice from its landlord regarding the termination of its occupancy, which would lead to the closure of its iconic location in Downtown Dallas. The information was provided by a spokesperson from Saks Fifth Avenue, Neiman Marcus' parent company.
Nearly a century ago, Neiman and Marcus signed a 99-year ground lease on a plot of land in Downtown Dallas owned by C.C. Slaughter, a close friend of both families. Slaughter never intended to profit from the lease, which never exceeded more than $400 per month. The lease expired in January but was extended until March 31.
