The fashion industry has always been a difficult industry to operate in because it is a constantly moving target.
There have been times in my life when polo shirts have been the pinnacle of everyday men’s style, and there have been times when only bullies in movies wore polo shirts. Fashion changes quickly, and today’s trends—think parachute pants, women’s leg warmers, or skinny jeans—might look like they’re from the Dark Ages in a few years.
That’s why chains like Gap have experienced huge ups and downs. Sometimes, they’re trendy, and other times, they’re out of style. Surviving trends has always been a challenge, but current market conditions make that challenge even more difficult.
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U.S. store closings accelerate sharply: Research project by retail consulting group Coresight Approximately 15,000 retail locations in the United States According to Retail Dive, the company will close and more than double the number of openings by 2025, with bankruptcies being the main driver of the trend.
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Retail bankruptcies continue to rise: have 51 major U.S. retail companies will go bankrupt in 2024According to CNBC, that number will reach 25 by 2023, which will help close and shrink the physical footprint.
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Net retail sales contraction continues: In the first half of 2025 alone, approx. 6,000 stores reportedly closed Across the United States, bankrupt chains such as Joann Fabrics and Party City are among the biggest contributors, according to Talk Business & Politics.
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Fashion and apparel have been particularly hard hit: Clothing, shoes, hats and accessories stores account for nearly One-third of all store closures by 2025According to the Economic Times, this includes chains such as Rue21 and Express.
Primp will also close its online operations.Shutterstock
Primp, a Minneapolis-area retailer that operates nationwide through its website, has decided to close all stores, including its online operations.
The company was founded 15 years ago by founders Michele Henry and Wesley Uthus with a simple idea: to provide “cheap chic” fashion in boutiques and community settings, making clothes accessible without sacrificing style and personality.
“Uthus and Henry opened its first store in St. Paul’s Cathedral Hill in 2010. Over the next few years, Primp expanded throughout the Twin Cities and beyond, attracting a loyal following with its selection of on-trend pieces under $100. By 2014, it had grown to six locations, and at its peak, Primp operated nine stores throughout the metro area and beyond, including stores in Sioux Falls and Fargo,” reports MSPMag.
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