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 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.

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