Neiman Marcus to Close Hudson Yards Location as Part of Bankruptcy
The department store faces financial troubles worsened by the coronavirus pandemic.
Luxury department store Neiman Marcus, which filed for Chapter 11 bankruptcy back in May, announced in court filings that it will close its Hudson Yards retail location, a massive 250,000-square-foot space in New York City. The company will close three additional stores, two in Florida and one in Washington.
As reported by Vanity Fair, a Neiman Marcus spokesperson said that the company’s decision “will help ensure the continued long-term success of our business and underscores our unrelenting focus on providing unparalleled luxury experiences and engagement.”
Approximately one year ago, Neiman Marcus became the anchor tenant of Manhattan’s Hudson Yards shopping mall, a ritzy hub home to luxury retailers and high-end restaurants. According to the spokesperson, ”a physical location in Hudson Yards is no longer an ideal space for us given the preponderance of restaurants and future office space in that mall.”