The flagship location of an iconic luxury store is closed after a run of 111 years.
The location in the center of Dallas of Neiman Marcus will be closed at the end of March, confirmed a company spokesperson. The store was opened in 1914.
Business staff said they wanted to keep the store open. It only closes due to a maintenance problem and a frayed relationship.
Nieman Marcus merged with Saks Fifth Avenue in December after the two luxury stores reached an $ 2.6 billion agreement.
Saks Global, the parent company in the deal, acidified according to the New York Post in the deal in his relationship with the landlords of the Dallas Store.
A broken lift in the middle of the store angry the luxury department store. They finally decided to close the location because they could not solve it.
“Without access to this, we are unable to offer the service level that our customers know and love Neiman Marcus,” a source told The Post.
Sources in the company claimed that the store closing had nothing to do with the recent merger agreement.
Marcus Neuman closes his store in Dallas with a big sale
The store was the second Neiman Marcus location in Dallas. The original location of the chain, built in 1907, burned down in 1913.
Marc Metrick, the CEO of Saks Global, said that “he was” disappointed to lose part of our history because of the circumstances outside our control. “
Neiman Marcus offers relocation options for employees in the Slotwinkel.
The brand is investing $ 100 million because it renovates its nearby North Park Mall location.
“Dallas is an important market for us, and we remain very dedicated to maintaining Neiman Marcus” inheritance there, “the company said in a statement.
“We see a long -term chance to invest in our shopping experience in Dallas and look forward to serving customers at our other locations.”
He added that the company will maintain business activities in the office space above the soon in Shutter store.
Top Brass, however, believes that it will close a 'handful' of the remaining 36 stores of the luxury chain.
Luxury retailers have struggled with shrinking sales, because customers are struggling with inflational pressure
Neiman Marcus and Saks Fifth Avenue merged after the luxury department store market was unrest
Saks Global CEO, Marc Metrick, said he was disappointed about the closure of the location in the center of Dallas
Top Brass, however, believes that it will close a 'handful' of the remaining 36 stores of the luxury chain.
Neiman Marcus submitted bankruptcy protection in 2020 during the early Pandemic Lockdowns with plans to throw $ 4 billion in debts.
The company left bankruptcy towards the end of the year. But luxury retail sales have decreased because customers spend less discretionary funds at stores in the stores.
Multiple chains have closed locations due to the decreasing sales numbers.
An old competitor of Neiman Marcus and Saks, Lord & Taylor, presented bankruptcy and closed all his stores in 2021.
The brand only lives on as an E -commerce retailer.
Macy's has also announced that it would close 150 stores by 2026.
