MINNEAPOLIS (WCCO) — The Neiman Marcus Group, Inc. announced Monday that it would be closing the 118,000-square-foot Neiman Marcus store on Nicollet Mall.

The store opened in 1991 and will be closed by July 2013.

Karen Katz, president and chief executive officer of The Neiman Marcus Group, Inc., said the store didn’t meet long-term operation goals.

The Minneapolis store has 107 employees, who will be offered transfer opportunities to other stores or will receive severance packages.