Neiman Marcus has told employees that it plans to close two more stores as part of its bankruptcy reorganization.
With the stores in suburban Boston and California, the list grows to seven full-line department stores that the Dallas-based retailer has elected to close.
These two stores will close after Christmas, a spokeswoman said.
Neiman Marcus has also asked the U.S. Bankruptcy Court for a 90-day extension of the period when it’s allowed to reject leases without penalties under the court’s protection.
The Northern California store is east of San Francisco in Walnut Creek’s Broadway Plaza shopping center. The 88,000-square-foot store has only been open since 2012. Nordstrom and Macy’s are the other anchors in the mall owned by California-based Macerich, the country’s third-largest shopping center owner and operator.
Outside Boston, the Natick will close, leaving that market with one store it has operated in Boston’s Copley Place since 1984.
Like Walnut Creek, Natick is a newer store that opened in 2007 with a striking metal skin and was designed by a local firm, Elkus Manfredi Architects. The 88,000-square-foot store also has an atrium.
That mall, owned by Brookfield Property Partners, is also losing its Lord & Taylor department store, which is in bankruptcy and closing all of its stores. The mall is also anchored by Nordstrom, Macy’s, Dave & Buster’s and a Wegmans Food Market. The family-owned grocery company, considered an innovative operator in the Northeast, much like H-E-B in Texas, opened the 146,500-square-foot multi-level grocery store in a former J.C. Penney in 2018.
Grocery stores are the latest new idea that mall developers are thinking about bringing to properties that need to rebuild customer traffic.
Neiman Marcus plans to exit Chapter 11 soon. It’s also in the process of permanently closing 17 of its Last Call stores. The store in Dallas’ Inwood Village has already closed, but Grapevine Mills is among five Last Call stores that Neiman Marcus has said will stay open to sell clearance merchandise. Neiman Marcus could close more stores before it’s finished with its reorganization. With the additional closings, that leaves the retailer with 36 namesake stores and two Bergdorf Goodman stores in Manhattan.
The pandemic is speeding up the closing of unprofitable department stores. Nordstom recently closed 16 stores, including one in Texas at North East Mall in Hurst. Macy’s, J.C. Penney and Sears are also in the process of closing stores.