Neiman Marcus Closing NYC Store After a Year

Neiman Marcus, which opened its first New York City store (pictured) in Manhattan’s Hudson Yards shopping complex in March 2019, plans to close that store permanently as part of the bankruptcy process, according to a report in Retail Dive, which cited court documents.

The famed Dallas-based retailer declared Chapter 11 in May, in a prepackaged bankruptcy. It plans to exit the process this fall.

The elaborate three-story, 188,000-square-foot Neiman store at Hudson Yards included several experiential elements, including dining options, local art, and a beauty and art salon. (It was originally planned to be 250,000 square feet.)

Its closing is being seen as a possible blow to the year-old shopping complex, which includes numerous jewelry tenants.

“We are always assessing our store footprint to ensure it is optimal to enhance revenues, overall profitability, and our integrated retail strategy,” a spokesperson told Retail Dive. “These store closures will help ensure the continued long-term success of our business and underscores our unrelenting focus on providing unparalleled luxury experiences and engagement.”

(Image courtesy of Neiman Marcus)

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JCK News Director