Introduction to Neiman Marcus Closure
The Neiman Marcus at The Shops at Willow Bend in Plano is set to close, bringing an end to the more than 20-year-old store at a mall undergoing redevelopment efforts. Saks Global sold the site to the developer, and the department store will remain open until January 2027, according to Saks Global. The Plano store is one of four Neiman Marcus locations in North Texas, with the others being in Fort Worth, along NorthPark Center in Dallas, and the historic downtown site, which is undergoing a review regarding its future.
Reason for Closure
“Through the regular course of business, we continually evaluate our store footprint and, as in this case, may determine it necessary to reformat or close a store,” Saks Global said. “There are currently no plans to reduce our store portfolio on a broader scale.” The move comes as The Shops at Willow Bend is preparing for a new future. Earlier this year, the city gave Centennial, a Dallas-based real estate investment firm, the green light to demolish more than a third of the mall and build a development with apartments, townhomes, retail, hotel, office and restaurant space.
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Sale of Neiman Marcus Property
“We have sold the Neiman Marcus Willow Bend property to the developer that is reimagining The Shops at Willow Bend,” Saks Global said in the message. “The sale was a mutual decision that allows the developer to bring its vision for the area to life.” It’s yet another shift for Neiman Marcus locally after becoming part of Saks Global late last year in a $2.7 billion merger.
Downtown Store Update
The downtown store was set to close at the end of March after weeks of back and forth between city and business officials and the company amid a lease dispute. Yet an 11th-hour announcement staved off the shuttering. The site is set to remain open through the holiday shopping of 2025 as the company discusses the future of the site.
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Future Plans
D-FW continues to be an important market for the company, Saks Global said. “We are continuing to work in collaboration with the City of Dallas on a potential reimagination of the Neiman Marcus Downtown Dallas store, and are making great progress on the upcoming Neiman Marcus NorthPark transformation,” it said in the message on Thursday.
Employee Support
As the company winds down operations at Plano, it will offer, where possible, transfer opportunities to other stores in the area. Eligible colleagues will be offered appropriate separation packages. “Dallas-Fort Worth has long been a key market for our company, and we are deeply grateful for the enduring loyalty of our customers in this community,” Mary McGreevy, chief stores officer for Saks Fifth Avenue and Neiman Marcus. “While we prepare for the eventual closing of the Neiman Marcus Willow Bend store, our commitment to serving the city remains unwavering. We will continue to foster the relationships we’ve built here and look forward to welcoming our customers to our other stores across the metroplex.”
The Shops at Willow Bend
The Shops at Willow Bend covers roughly 1.4 million square feet and was the last enclosed mall built in Texas. It opened in 2001, and Centennial bought the center in 2022. Despite hundreds of millions of dollars spent by previous owners, the mall struggled to attract sufficient shoppers and stores. Centennial had pivoted its original plans for the mall after Macy’s, one of the center’s anchor department stores, announced in January that the Willow Bend store was one of five Dallas-Fort Worth locations closing its doors — part of the retail giant’s move to close more than 60 stores nationwide.
Conclusion
The closure of Neiman Marcus at The Shops at Willow Bend marks a significant change for the mall and the community. As the mall undergoes redevelopment, it will be interesting to see how the new development shapes the future of the area. With the company’s commitment to serving the city remaining unwavering, customers can look forward to continuing to shop at other Neiman Marcus locations in the area.
FAQs
Q: When will the Neiman Marcus store at The Shops at Willow Bend close?
A: The store will remain open until January 2027.
Q: Why is the store closing?
A: The store is closing as part of the redevelopment efforts of The Shops at Willow Bend.
Q: What will happen to the employees at the Plano store?
A: The company will offer transfer opportunities to other stores in the area, and eligible colleagues will be offered separation packages.
Q: Will the downtown Neiman Marcus store close?
A: The downtown store is undergoing a review regarding its future, but it will remain open through the holiday shopping of 2025.
Q: What is happening to The Shops at Willow Bend?
A: The mall is undergoing redevelopment, with plans to demolish more than a third of the mall and build a new development with apartments, townhomes, retail, hotel, office, and restaurant space.
