An iconic Southern shopping destination is closing its doors.

Neiman Marcus’ flagship location in downtown Dallas is closing on March 31. The shutdown of the historic retailer will continue despite pushback from the community, including a consortium led by downtown business groups who have called for continued negotiations.

Its owners remain firm, however.

“Our decision to close the Neiman Marcus Downtown Dallas store is final and we are moving forward as such,” owners Saks Global Operation Group said in a statement to CBS News.

Saks cited a lease dispute – and not poor performance – as the reason for the store’s closure. According to the Street, Neiman Marcus received a notice from its landlord on Feb. 18 regarding the termination of its occupancy. The lease, first signed some 99 years ago, expired in January 2025 but was extended until March 31.

Saks acquired Neiman Marcus in 2024 and also owns Saks Fifth Avenue, Bergdorf Goodman and Saks Off 5th.

The iconic chain will keep a presence in the city, opting to invest $100 million in the renovation of its NorthPark Neiman Marcus location.

Neiman Marcus currently has 36 locations across the U.S.