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.

Neiman Marcus' parent company Saks said despite a land deal worked out between the downtown Dallas building's owner and the city, their plans to close the iconic location have not changed. "Given our role in the Dallas community,

Downtown Dallas Inc. announced that a parcel of land the historic building stands on will be donated to the city when the department store's ground lease expires on March 31.