Saks Global, which is the parent company of Dallas-based Neiman Marcus, confirmed Thursday that they have sold the Willow Bend location in Plano.
A Saks Global spokesperson said in a statement:
“We have sold the Neiman Marcus Willow Bend property to the developer that is reimagining The Shops at Willow Bend. The store will remain open until January 2027 as the developer progresses on various phases of the area’s reimagination. The sale was a mutual decision that allows the developer to bring its vision for the area to life, building on the retail foundation with the introduction of new residential, dining, and entertainment uses. This also provides our company with the opportunity to strategically reinvest in areas of our business that drive growth and position the company for long-term success.
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. There are currently no plans to reduce our store portfolio on a broader scale.
Dallas-Fort Worth continues to be an important market for the company. 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.
We are committed to treating our Neiman Marcus Willow Bend colleagues with respect and fairness throughout the closing process. As we wind down operations, transfer opportunities to other stores in the DFW metroplex will be offered where possible, and eligible colleagues will be offered appropriate separation packages.”
It comes as the luxury retailer reimagines their Downtown Dallas location as well.
According to Saks Global, this holiday season will be the last at the store, and then they will “reimagine” the flagship location that has been open for more than 100 years downtown.
“We’re committed to the Neiman Marcus name, period, but in Dallas, absolutely. This is not something that can be messed with,” Marc Metrick, CEO of Saks Global, said in an exclusive interview with NBC 5 in March.