DALLAS – The parent company of Neiman Marcus has reaffirmed its decision to close the Downtown Dallas store, dismissing the city’s efforts to prevent the closure as “highly unproductive.”
In a statement to FOX 4 on Tuesday, a spokesperson for Saks Global accused city officials of attempting to pressure the company through “false and inaccurate” media statements.
Saks Global also alleged that multiple attempts to communicate directly with the Dallas city manager had been unsuccessful. The company emphasized its commitment to Neiman Marcus’ future in Dallas, highlighting a planned $100 million renovation of the NorthPark Center location.
Saks Global’s Statement:
“The Dallas Consortium’s ongoing tactic of using the press to pressure us into altering our strategy in Dallas is highly unproductive. Despite our previous clarifications, they continue to make inaccurate claims. Our decision to close the Neiman Marcus Downtown Dallas store is final, and we are moving forward accordingly.
This situation is far more complex than what the public has been led to believe, with negotiations spanning over a decade. While we were open to hearing the Consortium’s perspective, a meeting was never confirmed. We made multiple attempts to engage directly with the City Manager as an official representative of Dallas, but our requests were denied.
We remain committed to growth and the future of Neiman Marcus in Dallas. That future lies with our NorthPark store, where we are investing $100 million in renovations.”
City of Dallas’ Response
As of Tuesday, the City of Dallas had not responded to Saks Global’s statement. However, officials recently secured the deed to the land on which the Downtown Dallas store sits in an attempt to preserve its presence in the city center.
The Background
The decision to close Neiman Marcus’ flagship store follows years of negotiations and legal complexities. Saks Global stated that after more than a decade of discussions, it received notice from the property’s landlord, the Slaughter family, terminating its occupancy effective March 31, 2025.
The store’s 99-year ground lease, originally held by C.C. Slaughter, expired on January 31, 2025, but was temporarily extended by two months. The lease, which never exceeded $400 per month in rent, reflected a historic agreement between the Slaughter family and Neiman Marcus’ founders.
The Slaughter family has since confirmed plans to donate the land to the City of Dallas, according to Downtown Dallas, Inc.
The Neiman Marcus Legacy
Neiman Marcus has been a cornerstone of Dallas retail since its founding in 1907. The brand, synonymous with luxury shopping, originally operated at Elm Street and North Field Street before relocating to its current location at Main and Ervay in 1914, following a devastating fire.
The retailer faced financial challenges in recent years, filing for bankruptcy protection in May 2020 during the pandemic. However, the company re-emerged from bankruptcy later that year.
In July 2024, FOX 4 reported that Saks Fifth Avenue, the parent company of Bergdorf Goodman and Saks Off 5th, had acquired Neiman Marcus. The $2.7 billion acquisition was finalized in December 2024, setting the stage for the company’s current restructuring efforts.
Despite the closure of its downtown location, Saks Global maintains that Neiman Marcus remains a key part of Dallas’ retail landscape, with its future centered on the NorthPark store.