Neiman Marcus at NYC's Hudson Yards could become office space: Report
High-end retailer has 13 open stores and plans to open 7 more this week
Neiman Marcus is selling office space at its Hudson Yards location in Manhattan, Business Insider reported Monday.
The bankrupt, high-end clothing company is apparently considering closing the location that opened about one year ago while its landlord offers space inside the 188,000-square-foot property to tenants in the meantime, BI reported.
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"Our restructuring plan is focused on alleviating our debt load, not mass store closures. We are confident in the performance of our overall store footprint," a Neiman spokesperson told FOX Business. "In fact, stores that have been open for more than a year prior to COVID-19 are 4-wall EBITDA positive."
The spokesperson added that Neiman always assesses its stores based on its footprint to ensure "it is optimal to enhance revenues and overall profitability, as well as how each store can best support [its] omnichannel strategy."
Neiman has 13 open stores, and the retailer intends to open seven more "this week, and more in coming weeks as local and state mandates allow," the spokesperson said. The Hudson Yards location has been closed since March due to the coronavirus pandemic.
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"Any related discussions with landlords are confidential," the spokesperson added.
New York City began its first phase of reopening Monday, bringing hope to retailers and other small businesses that have been closed for nearly three months since COVID-19 lockdown restrictions in the densely populated area.
Retailers can reopen for delivery and pickup purchases, but customers have to wait a bit longer before they can begin browsing through stores again.