Dallas leaders and business stakeholders gathered in front of the soon-to-close Neiman Marcus in Downtown Dallas, emphasizing the store’s significance and their determination to prevent its closure. The iconic location, a fixture since 1914, faces an uncertain future due to a lease dispute.
Efforts to Save the Store
Downtown Dallas Inc. President Jennifer Scripps, Dallas City Manager Kim Tolbert, Councilman Paul Ridley, Todd Interests CEO Shawn Todd, and Dallas Economic Development Corporation CEO Linda McMahon held a news conference to discuss strategies to keep the store open. They hope to meet with Neiman Marcus’ owners and property stakeholders next week to negotiate a lease agreement. Acknowledging the complexity of downtown ground leases, they believe a creative solution is possible.
Scripps stated, “Together, we’re working to ensure that Neiman Marcus remains in the heart of downtown.”
City Manager Tolbert stressed that beyond its economic impact, the store holds personal significance for many residents. She noted that with major events like the 2026 FIFA World Cup and the redevelopment of the Kay Bailey Hutchinson Convention Center, preserving Neiman Marcus aligns with the city’s future growth.
Councilman Ridley pledged to use his office’s resources to keep the store in downtown, while Todd expressed confidence in Dallas leaders’ ability to resolve the lease dispute.
Neiman Marcus Closure and Lease Dispute
Following the merger of Neiman Marcus with Saks Fifth Avenue, the company announced the closure of its CityPlace offices and its flagship store in Downtown Dallas. Saks Global revealed that after years of negotiations, the landlord issued a termination notice, requiring Neiman Marcus to vacate by March 31, 2025. Saks expressed disappointment at losing a location that has been part of the Dallas community for over a century.
In July 2024, Saks Fifth Avenue, which owns Bergdorf Goodman and Saks Off 5th, acquired Neiman Marcus for $2.7 billion. The merger was finalized in December 2024, and in addition to the Dallas closure, Saks will also shut down its Bryant Park office in New York City.
A Century of History
Founded in 1907, Neiman Marcus has long been associated with luxury retail. After its original store at Elm Street and North Field Street was destroyed by fire in 1913, the company relocated to its current Main Street and Ervay Street location in 1914. Despite filing for bankruptcy in 2020 due to the pandemic, Neiman Marcus managed to recover later that year.
Now, with its future in Dallas uncertain, city leaders are working to ensure that the historic retailer remains a part of the community.
