Neiman Marcus' parent company Saks says 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. A Saks Global spokesperson told CBS News Texas that plans for the flagship store have not changed.

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.

The store has been a staple in Dallas for over a century, helping cement the Texas city as a global fashion destination.

Saks Global says they still plan to close the Downtown Dallas Neiman Marcus, despite the settling of a land dispute.

Saks Global says it is laying off staff as it works to integrate the recently acquired Neiman Marcus Group with its other luxury brands.

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.

The city says this could clear the way for Neiman to stay open in downtown Dallas but a lot of big questions remain.