Year Established: 1907
Store Closures: 4 Branches*
The news about Neiman Marcus broke in mid-April of 2020, so the exact amount of store closures for the 113-year-old retailer is, for now, unknown. Inside sources at Neiman Marcus confirmed to Reuters that the Dallas-based business is in the process of declaring bankruptcy and negotiating with creditors for an emergency loan.
Thankfully, the process was resolved in late 2020 and Neiman Marcus was purchased by several investment firms, which plan on bringing the company back to its former glory. As of mid-2021, the much-loved brand is trying to get back on its feet and expand its digital presence while holding on to stores. The New York Times described Neiman Marcus as a former “symbol of luxury” – but whether more stores will close in 2022 remains to be seen.