Neiman Marcus to keep Tampa store open

Neiman Marcus intends to continue operating its store in the International Plaza mall in Tampa’s Westshore Business District, after asking a U.S. Bankruptcy Court to allow it to reject a pair of leases on other Florida stores.

The Dallas-based luxury retailer is among the most prominent anchor tenants at the mall, which is owned by Taubman Centers and an affiliate of Teachers Insurance and Annuity Association.

Other anchor tenants in the 1.2 million-square-foot shopping hub, which opened in 2001, include Nordstrom and Dillard’s.

Late last month in a bankruptcy filing, Neiman Marcus indicated it plans to permanently close four of its 43 U.S. stores, including a three-level, nearly 100,000-square-foot store on Sunrise Boulevard in Fort Lauderdale and a two-story store on Worth Avenue in Palm Beach.

The retailer also outlined plans to shutter a store in Bellevue, Washington, and a three-level operation in the Hudson Yards development in New York City.

As part of the filing, Neiman Marcus also stated it plans to eliminate 17 of its 22 Last Call stores, save for a pair of outlets in California and Texas and its store in the Sawgrass Mills, in Sunrise.

“We are always assessing our store footprint to ensure it is optimal to enhance revenue, overall profitability and our integrated retail strategy,” a Neiman Marcus spokeswoman says in response to the filing unveiling the store closings.

Neiman Marcus filed for Chapter 11 bankruptcy protection in May, citing the negative impact stemming from the coronavirus. The company listed more than $5.5 billion in liabilities against assets of $4.2 billion.

It is hoping to emerge from bankruptcy with less debt and operating overhead.