Neiman Marcus is considering pulling out of Hudson Yards or downsizing the site, among other potential closings by the luxury retailer around the country.

The Dallas-based Neiman Marcus Group filed for bankruptcy reorganization on May 7 and is formulating a plan of restructuring involving streamlining the business.

Sources said the list of locations being eyed for possible closures includes downtown Dallas; St. Louis; Ft. Lauderdale, Fla.; Natick, Mass., and Westchester, N.Y. Bankruptcy law enables retailers to get out of leases without penalty.

However, The Related Companies, owner of the massive Hudson Yards mixed-used development on the west side of Manhattan, has begun marketing Neiman's three-level, 188,000square-foot space, two sources said. Related has been conducting "initial studies of alternatives" should Neiman Marcus vacate some or all of its premises at Hudson Yards.

To convince Neiman's to open at Hudson Yards, on the fifth, sixth and seventh floors, Related is said to have provided very attractive lease terms, including low rent, as well as unobstructed floor plates, high ceilings, and windows, a concierge and express elevators on the Tenth Avenue side of the mall.

Prior to the opening, Neiman's billed the store as a testing ground for services and experiences the retailer hadn't provided before, and creating "a next-generation" store for the future. While elegantly designed with Italian stone columns and works of art from such artists as Frank Stella and Roy Lichtenstein, much of the innovation centered on food, with the epicure concept called Cooks & Merchants, Bar Stanley, and the Zodiac Room. There are also high-tech fitting rooms, a styling lounge, many special services and a more open, fluid floor plan with fewer hard shops than other Neiman's stores.

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