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Fortune
Fortune
Jane Thier

Neiman Marcus doubled down on working from anywhere after dumping half a billion feet of office space. It has no plans to turn back.

KING OF PRUSSIA, PA - DECEMBER 11: A woman holds the hand of her daughter while motioning to a man in front of Neiman Marcus at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. The country's largest retail shopping space, the King of Prussia Mall, a 2.7 million square feet shopping destination with more than 400 stores, is owned by Simon Property Group. (Photo by Mark Makela/Getty Images) (Credit: Mark Makela—Getty Images)

Things weren’t looking good for luxury retailer Neiman Marcus in the early pandemic. Nobody was shopping—nobody had anywhere to go that necessitated a new outfit—and, like many other major retailers, the brand permanently shuttered numerous brick-and-mortar stores and filed for bankruptcy. 

It emerged from that bankruptcy three months later as a private company, leaving its financials behind lock and key. But one thing the company is proud to share: It drastically downsized its corporate office space in the Dallas–Fort Worth area, with no plans to recoup it anytime soon.

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