Saks Global plans to close the long-standing Neiman Marcus flagship store on Main Street in downtown Dallas, ending more than a century of operations at the location. The decision follows the company’s assessment that the store was no longer generating sufficient business to justify continued operations.
Neiman Marcus first opened in downtown Dallas in 1907, marking the beginning of the brand’s presence in the city’s central business district. The flagship later moved to its current address at 1618 Main St. in 1914, where it became a prominent retail landmark and a long-recognized part of downtown Dallas’s commercial core.
Performance at the downtown store has lagged the company’s other locations. According to reporting cited from the Dallas Business Journal, Neiman Marcus’s store at NorthPark Center records sales that are roughly 10 times higher than those of the downtown Dallas store. That performance gap underscored the company’s decision to shutter the Main Street location while maintaining its stronger-performing store at NorthPark Center.
The closure decision is unfolding against the backdrop of significant financial strain at Saks Global. The company filed for Chapter 11 bankruptcy protection in January 2026 after missing a $100 million interest payment in late 2025. Court filings indicate that Saks carries billions of dollars in debt tied to its $2.7 billion acquisition of Neiman Marcus in 2024, and that leverage has been a central factor in its restructuring process.
Earlier in its bankruptcy proceedings, Saks had indicated that it intended to keep downtown Dallas properties associated with the Neiman Marcus store. However, subsequent disclosures show the company reversed that position and no longer plans to retain those assets. The shift highlights how Saks’s ongoing restructuring and debt burden are influencing decisions about which locations and properties remain core to the business.
The Main Street flagship’s closure marks the end of a historic retail presence that has anchored downtown Dallas for generations. While the company has not disclosed future plans for the space or related properties, the move underscores the operational and financial pressures facing Saks Global as it works through bankruptcy and reevaluates its store footprint.
