The exterior of The Shops at Hudson Yards, where Neiman Marcus is the anchor department store.
Source: Related costs.
It’s hardly been a year since the lucky guests danced the night away and drank champagne at the new Neiman Marcus department store in Manhattan, with the opening party featuring a special performance by Liza Minnelli.
Now bankrupt, the department store chain said in court Thursday that it is vacating the dazzling Hudson Yards shopping center on Manhattan’s West Side.
A Neiman Marcus spokesman said the company is closing its Hudson Yards location forever, along with two stores in Florida, Fort Lauderdale and Palm Beach, and in Bellevue, Washington.
“We are always evaluating the footprint of our store to ensure it is optimal for improving revenue, overall profitability and our integrated retail strategy,” said the spokesperson. “These store closings will help ensure the continued long-term success of our business and underscore our relentless focus on providing unparalleled luxury engagement and experiences.”
“A physical location at Hudson Yards is no longer an ideal space for us given the preponderance of future restaurants and offices in that mall,” he added.
Hudson Yards, built by two of the world’s largest real estate developers, Related Cos. And Oxford Properties Group, was temporarily forced to close its doors as part of the blockades to curb the spread of the coronvairus. It was an especially hard blow considering that the mall had barely opened. It hasn’t fully reopened yet, but several tenants are offering a sidewalk pickup.
Dallas-based Neiman Marcus, burdened with debt and hit by the Covid-19 crisis, filed for Chapter 11 bankruptcy protection on May 7.
Related has been purchasing Neiman Marcus space for office tenants.
“It is unfortunate that Neiman Marcus has failed to achieve the success that other retailers have found at Hudson Yards and we look forward to welcoming the designer brands that brought Neiman Marcus sales to their own stores in the retail center,” said a spokesperson. from Related. CNBC in an email statement. “This opens up a great opportunity to create an incredibly attractive office space with the largest floor plates available in New York City, a private entrance on the ground floor and 18 foot ceilings at 20 Hudson Yards.”
The Dallas Morning News first reported on the closings..
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