Fashion has always been a tough business to operate in because it’s a moving target.
There have been multiple points in my life where Polo shirts were the height of everyday men’s style and periods when only bullies in movies wore them. Fashion changes rapidly, and today’s trend — let’s say parachute pants, leg warmers on women, or skinny jeans — may, just a few years later, seem like it came from the Dark Ages.
That’s why chains like Gap have had massive ups and downs. At times, they’re hip, and on other occasions, they’re out of fashion. Surviving trends has always been a challenge, but current market conditions have made that even harder.
U.S. store closures are accelerating sharply: Retail advisory group Coresight Research projects about 15,000 U.S. retail locations will close in 2025, more than double the number of openings, with bankruptcies a major driver of that trend, Retail Dive reported.
Retail bankruptcies are rising: There were 51 major U.S. retail bankruptcies in 2024, up from 25 in 2023, contributing to closures and contraction of physical footprints, according to CNBC.
Net retail contraction continuing: In the first half of 2025 alone, roughly 6,000 store closures were reported across the U.S., with bankrupt chains such as Joann Fabrics and Party City among the largest contributors, according to Talk Business & Politics.
Fashion & apparel particularly hard hit: Clothing, footwear, and accessories stores accounted for nearly one-third of all 2025 store closures, including chains like Rue21 and Express, reported the Economic Times.
Primp will also shut down its online operations.Shutterstock
Primp, a Minneapolis-area retailer that operated nationally through its website, has decided to close all its stores, including its online operations.
The company was started 15 years ago by founders Michele Henry and Wesley Uthus, who started with a simple idea: to offer “cheap chic” fashion that made clothes accessible, without sacrificing style and personality, all in a boutique, neighborhood setting.
“Uthus and Henry opened their first store in 2010 in St. Paul’s Cathedral Hill. Over the next several years, Primp expanded throughout the Twin Cities and beyond, drawing a loyal following with its selection of on-trend, under-$100 pieces. By 2014, it had grown to six locations, and at its peak, Primp operated nine stores throughout the metro and beyond, including spots in Sioux Falls and Fargo,” MSPMag reported.
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Now, all of the remaining locations will close for good on Dec. 23.
“Our last day of business will be December 23,” said Primp co-founder Wesley Uthus on Instagram. “Today begins our Farewell Sale: 50% off everything, a chance to shop, reminisce, use your gift cards and loyalty points, and celebrate this place that I love so, so much.”
The owners did not give a reason for the shutdown, and no bankruptcy has been filed.
“My heart is broken,” Uthus wrote on Instagram. “I’m so grateful for every moment, every conversation, every employee, and every customer who made Primp what it is.”
Founded in 2010: Primp Boutique opened its first store in September 2010 on Selby Avenue in St. Paul, Minnesota, with the founders aiming to offer a stylish, yet affordable “cheap chic” fashion boutique experience, reported Minneapolis St. Paul Magazine.
Early expansion: Over the next several years, Primp expanded throughout the Twin Cities metro, growing from the original St. Paul location to multiple shops, reaching about six locations by 2015, shared The Minnesota Daily.
Peak footprint: At its height, the chain operated nine brick-and-mortar stores, with locations not only in Minnesota but also in cities such as Sioux Falls (South Dakota) and Fargo (North Dakota), according to Minneapolis St. Paul Magazine.
Business model & culture: Primp was known for offering curated, on-trend women’s clothing and accessories at affordable prices (mostly under $100) and a boutique shopping experience with personal service, The Minnesota Daily reported.
Further expansion: In 2024, Primp opened a store in downtown Fargo, representing its first North Dakota location and highlighting continued growth prior to recent declines, Inforum wrote.
Downsizing starts (~2018): The company began reducing its physical footprint as early as 2018, and the Covid pandemic compounded challenges in retaining foot traffic and in-store sales, reported Minneapolis St. Paul Magazine.
Store closures: Multiple stores were closed in the years leading up to 2025, with several metro and regional locations shutting down before the final closures were announced, added Minneapolis St. Paul Magazine.
Final closure announced (2025): In December 2025, Primp’s founders announced on its Instagram page that all remaining stores will permanently close on Dec. 23, 2025, after 15 years in business.
Liquidation sale: As the chain winds down operations, a farewell liquidation sale with steep discounts (e.g., up to 50% off) was underway to clear inventory, the company also shared on Instagram.
Current market conditions helped hasten the chain’s demise.
“Inflation and a growing preference among consumers to shop online to find the cheapest deals took a toll on brick-and-mortar retailers in 2024,” said Coresight Research CEO Deborah Weinswig in a statement reported by the Chicago Sun-Times.
“Last year we saw the highest number of closures since the pandemic…and we continue to see a trend of consumers opting for the path of least resistance.”
Coresight, a research and advisory firm specializing in retail and technology, does not expect the market to improve.
“Following a spike in stores closures in 2024, Coresight Research expects closures to escalate further this year, to approximately 15,000. Coresight Research projects store openings will remain steady with about 5,800 stores opening nationwide this year. U.S. store closures totaled 7,325 in 2024, the highest number of store closures seen since 2020, when Coresight Research tracked almost 10,000 closures,” it shared in a press release.
Related: US-made bedding brand to liquidate in Chapter 7 bankruptcy
This story was originally published by TheStreet on Dec 12, 2025, where it first appeared in the Retail section. Add TheStreet as a Preferred Source by clicking here.
