Popular luxury clothing store Neiman Marcus announced plans to shutter the doors to it’s downtown Dallas location much to the dismay of local city officials.
The news comes as countless retailers lose business to online shopping, which has even negatively impacted the high-end department stores. However, this instance wasn’t attributed to poor performance but a supposed leasing dispute, according to Neiman Marcus owner Saks Global . Shortly after the luxury store announced its plan, Dallas city officials pressured Neiman Marcus to remain in the touristy downtown area.
Their efforts didn’t work and they seemingly grew annoyed of the city’s efforts in thwarting its plan. On Mar. 4, Saks Global put it’s foot down saying the plan to shut down the Dallas location was final with room for negotiation. A Saks spokesperson said, “The Dallas Consortium’s ongoing tactic of using the press to pressure us into changing our strategy in Dallas is highly unproductive…Our decision to close the Neiman Marcus Downtown Dallas store is final and we are moving forward as such.”
Neiman Marcus has been a huge part of downtown Dallas for nearly a century after the company signed a 99-year lease on a plot of land in the area, which was owned by C.C Slaughter. The generational lease was up in January but got extended to Mar. 31. Saks claimed to have been negotiating the lease with Slaughter Partners since 2011 to no avail…