Saks Global's challenges grow as it moves to cut costs and hold payments to vendors. Even more challenging, Saks trails in foot traffic to luxury department stores.

Neiman Marcus shuttered its gigantic three-floor office in Dallas as a cost-cutting measure by owner Saks Global. The Dallas-based luxury department store chain has been a mainstay in the area and even received $5.

Saks Global announced the Dallas flagship Neiman Marcus store will close on March 31 claiming the building landlord forced the closure.

There’s also the attempted exit from Neiman Marcus’ relatively new office lease at Cityplace Tower in Uptown— a move that the landlord, NexPoint, disputes is even allowed. Then, there’s Saks’ announcement that it’s injecting $100 million into the NorthPark location of Neiman Marcus for renovations.

Neiman's 100-plus years of history in Dallas and its leading role in turning Dallas into a global retail destination has made the downtown closure all the more dramatic.

While the historic Neiman Marcus flagship in downtown Dallas will close, a major investment is being made to pump up the Neiman Marcus store in NorthPark Center, also in Dallas.

The storied site on Main Street will shutter effective March 31, according to a statement from Saks Global, the new owner of Neiman Marcus. Despite yearslong negotiations, it received a notice from a landlord to terminate the occupancy, “forcing us to close,” the statement said.

Saks Global says it is closing two U.S. offices as it consolidates its corporate footprint after a merger of several luxury brands.