On Thursday, the Neiman Marcus Group announced that it will close four of its luxury department stores, including one in the Hudson Yards and locations in Bellevue, Palm Beach and Fort Lauderdale, as well as 17 Last Call outlets.
In late March, Neiman Marcus was forced to close all of its 43 physical locations, as well as its two stores, Bergdorf Goodman and Last Call, before filing for bankruptcy on May 7. They were the first major fashion retailers to do so then. Since then, several stores have reopened for customer traffic and customer appointments, according to Lana Todorovich, president and chief marketing officer for Neiman Marcus. But after these closings, Neiman Marcus will have 39 locations.
The 188,000-square-foot location at Hudson Yards hoped to attract tourists, office workers, and New Yorkers alike to the dazzling $ 25 billion new development. But the charm was fleeting once the pandemic struck just a year later. A spokesperson for the retailer said: “Hudson Yards is no longer an ideal space for us given the preponderance of future restaurants and offices in that mall.” Related Cos., One of the Hudson Yards real estate developers, is already planning to reuse the store, saying the closure “opens up a great opportunity to create an incredibly attractive office space.”
“While we have no other store closings to announce at this time, we will continue to evaluate our store fleet throughout the restructuring process. We will communicate additional decisions as they are made, ”Todorovich told sellers in a letter Thursday. “Closing these select stores is a tough move, but it will optimize our market presence and ensure NMG’s long-term success.”
Looking to the future of the retail group, there are likely to be additional store closings, according to WWD. Neiman’s has been working with A&G Real Estate Partners to market multiple locations in the U.S.
