Bankrupt Neiman Marcus to vacate the Hudson Yards mall in New York

The exterior of The Shops at Hudson Yards, the place Neiman Marcus is the anchor division retailer.

Source: Related Cos.

It has hardly been a yr since fortunate invitees danced the evening away and sipped champagne all through a sprawling new Neiman Marcus division retailer in Manhattan, with the opening occasion that includes a particular efficiency by Liza Minnelli. 

Now in chapter proceedings, the division retailer chain mentioned in a court docket submitting Thursday it’s vacating the glitzy Hudson Yards shopping mall on Manhattan’s West Side. 

A Neiman Marcus spokesman mentioned the corporate is closing its Hudson Yards location for good, together with two shops in Florida — Fort Lauderdale and Palm Beach — and in Bellevue, Washington. 

“We are all the time assessing our retailer footprint to make sure it’s optimum to boost revenues, general profitability, and our built-in retail technique,” the spokesman mentioned. “These retailer closures will assist make sure the continued long-term success of our enterprise and underscores our unrelenting concentrate on offering unparalleled luxurious experiences and engagement.” 

“A bodily location in Hudson Yards is now not a super house for us given the preponderance of eating places and future workplace house in that mall,” he added. 

Hudson Yards, constructed by two of the world’s largest actual property builders — Related Cos. and Oxford Properties Group — was briefly compelled shutter as a part of the lockdowns to curb the unfold of coronvairus. It was an particularly laborious blow contemplating the mall had simply barely opened. It remains to be not totally reopen, however a number of tenants are providing curbside pickup. 

Neiman Marcus, saddled with debt and hammered by the Covid-19 disaster, filed for Chapter 11 bankruptcy protection on May 7

Related has been procuring the Neiman Marcus house for workplace tenants. 

“It is unlucky that Neiman Marcus was unable to realize the success that different retailers have discovered at Hudson Yards and we sit up for welcoming the designer manufacturers who drove Neiman Marcus’ gross sales to their very own shops within the retail middle,” a Related spokesman instructed CNBC in an emailed assertion. “This opens up an ideal alternative to create extremely engaging workplace house with the biggest ground plates obtainable in New York City, a non-public floor ground entrance, and 18 foot excessive ceilings at 20 Hudson Yards.” 

The Dallas Morning News first reported on the closings

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