The Neiman Marcus business in downtown the US metropolis of Dallas will be closed on March 31, as Saks confirmed Global on Friday. The retailer, which was currently in merger with the newly acquired Neiman Marcus Group (NMG), reacted to the opposite, which claimed the opposite.
According to reports, it had been beamed: Inside the city of Dallas to keep the store open, and the landlord Slaughter partner, with whom there had been disputes, had agreed to provide the property.
Saks Global confirmed that in 2011 it was tried to make an “economically sensible agreement” with Slaughter, which part of the property belonged to. However, these conversations had failed, which resulted in the rental agreement between Neiman Marcus and Slaughter was dissolved after its expiry.
In November 2024, the NMG management at the time asked the city of Dallas for support in the negotiations after city representatives: inside had expressed their concern about the continued existence of the business. There is also said to have given talks about a possible purchase of the property part by NMG, but Slaughter did not give a price.
The company also stated that they have received no official documents about the Philanthropic agreement between Slaughter and the city of Dallas or how it could influence the property, its co -owners: inside and the operation of the store.
Saks also accused Slaughter of “having asked for rents well above the market price – knowing that Neiman Marcus could not continue the business without this special rental agreement”.
Saks Global inherited the rental problem in December with the takeover of NMG. Ian Putnam, CEO for real estate and investments by the company, said that Saks “tried in good faith to reach an agreement with the landlord”, but had decided to terminate the tenancy.
Putnam also praised the efforts of the Dallas Consortium, which had campaigned for the preservation of the flagship store. He emphasized that the company had listened to its perspective, “especially given the slow revival of downtown Dallas in recent years”.
However, he added: “Ultimately, as companies, we have to make decisions that ensure the best for our future and our long -term success in Dallas and beyond.”
This article previously appeared on fashionunited.uk and was used with digital tools translated.
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