The Dallas City Council in May 2022 approved the luxury retailer getting an economic development grant in exchange for keeping its flagship store downtown

Back-to-back announcements centered on an iconic Dallas retail brand is sending shockwaves through the region. Neiman Marcus will shutter its flagship downtown Dallas store effective March 31, just months after Saks Global acquired the luxury retailer for $2.65 billion.

The news comes less than a year after Neiman Marcus’ merger with Saks Fifth Avenue and shortly after the announcement of the closing of their CityPlace offices.