Neiman Marcus to lay off 67 employees as landmark – Business News
The landmark Dallas Neiman Marcus flagship is closing its doorways after more than a century on Sept. 30 — laying off 67 employees within the luxurious retailer’s (*67*) city.
The layoffs have been disclosed in a authorities submitting by father or mother company Saks Global – which filed for chapter safety in January.
The positions being eradicated embody gross sales associates, tailors and employees of the retailer’s posh restaurant, Zodiac Room.
The Dallas Neiman Marcus store will close on September 30 after more than a century-long run. Google Maps
The nine-story Renaissance Revival tower at 1618 Main St. — which first opened in 1914 and housed the company’s headquarters till 2022 — employed more than 200 staff in higher occasions, in accordance to former employees.
The incontrovertible fact that it’s whittled down to 67, stated one veteran, is a “reflection of the lack of inventory, lack of [customer] traffic and the realization the store wasn’t worthy of further investment.”
Shortly after Saks Global acquired Neiman Marcus for $2.6 billion in 2024, the company introduced plans to close the Dallas store – solely to reverse its resolution after native pols pressured the company to keep it open.
Saks Global blamed the closure on the time on a weird scenario involving a co-owner of the building who managed the land beneath its escalator bank and who declined to renew its lease with the retailer.
The company’s far more profitable NorthPark Dallas location, which has been earmarked for a $100 million renovation, would be the solely remaining Neiman Marcus in Dallas.
The Dallas store employed more than 200 people during higher occasions. Michael Becerra / Facebook
Some store employees affected by the layoffs might be provided transfers to NorthPark, the company stated.
The Dallas store “is not profitable, and so I think that (the) customer has decided where she or he wants to access the Neiman Marcus brand,” Geoffroy van Raemdonck, chief govt of Saks Global advised The Dallas Morning News when he first introduced the store closure on June 2.
The NorthPark store does more than 10 occasions the gross sales of the downtown web site, in accordance to the report.
Geoffroy van Raemdonck, chief govt of Saks Global, stated the Dallas store just isn’t profitable. Kristin Callahan / Shutterstock
Neiman Marcus’ departure is a blow to struggling downtown Dallas, which is dropping a slew of large companies, together with AT&T and the Dallas Stars hockey crew that are each relocating to Plano.
The Dallas Mavericks are additionally leaving the American Airlines Center.
It’s not clear what’s going to occur to the downtown store building. Saks Global is amongst a number of house owners of the real estate, the company stated.
