Neiman Marcus to close century-old, flagship Dallas store

Feb. 18 (UPI) -- Luxury retailer Neiman Marcus' flagship store in downtown Dallas will close next month after more than 100 years.

Neiman Marcus' first store -- which opened in 1907, and again at its current location in 1914 -- will close on March 31st, parent company Saks Global announced Tuesday. Neiman Marcus merged with Saks Fifth Avenue last year in a $2.65 billion deal.

According to Saks Global, the company was forced to close the iconic store after receiving notice from a landlord to terminate occupancy "after more than a decade of negotiations."

"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. We see a long-term opportunity to invest in our Dallas shopping experience, and look forward to serving customers at our other locations," Saks Global added.

The company's corporate headquarters at Cityplace Tower were also closed Monday to cut costs. Corporate offices above the downtown Dallas store will remain. Some Neiman Marcus store employees will be transferred to nearby locations, while others will be offered severance packages.

Neiman Marcus filed for bankruptcy protection in May 2020 during the COVID-19 pandemic, but recovered later that year. Neiman Marcus currently has 36 stores.

The first Neiman Marcus store opened in 1907 at the intersection of Elm Street and North Field Street in downtown Dallas. The building was destroyed in a fire in 1913. Neiman Marcus opened a new store in 1914 at Main Street and Ervay Street, which is the one slated to close.