Saks Global to shutter Neiman Marcus Dallas flagship March 31

Rumors of the Neiman Marcus downtown Dallas store avoiding closure are greatly exaggerated.

Saks Global, which finalized its acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion in December 2024, is reiterating its intention to close the Neiman Marcus Dallas flagship on Monday, March 31, 2025.

In response to media reports that the city of Dallas and flagship store landlords Slaughter Partners had reached an agreement to keep the store open, Saks Global issued a public statement clarifying that no deal has been reached and closure plans remain on schedule.

Saks Global said that as early as 2011 and as recently as December 2024, there have been several attempts to come to a “commercially reasonable” agreement with Slaughter Partners, and previous Neiman Marcus Group leadership had asked the city of Dallas for assistance in negotiations in November 2024.

According to Saks Global, none of these efforts has resulted in an agreement to keep the store open and Slaughter Partners is terminating Neiman Marcus’ occupancy of the space upon the March 31 expiration of its lease.

"The claims that the store will remain open are misleading for the Dallas community, our store employees and our brand partners," said Ian Putnam, CEO of Saks Global Properties and Investments. "Saks Global inherited this lease issue from Neiman Marcus’ previous owners and worked in good faith to come to an agreement with the landlord, who chose to terminate our occupancy."