A local business group said it brokered a deal to keep the iconic downtown department store at its current site on Main Street, a week after Neiman Marcus' parent company announced that it would close the store after a dispute with a landlord.

Owner Saks Global had blamed the closure on a lease dispute but says its plans remain even though civic leaders have brokered a solution.

City and real estate officials say the owners of the land where Neiman Marcus' flagship store is located have Dallas ties and will donate the land to the city.