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.
-
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.
-
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.
-
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.
-
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, 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.
More retail:
Now, all remaining locations will permanently close on December 23rd.
“December 23rd is our last day of business,” Primp co-founder Wesley Uthus said on Instagram. “Today starts our farewell sale: 50% off everything, a chance to shop, make memories, use gift cards and loyalty points, and celebrate this place that I love so, so much.”
The owners gave no reason for the closure and did not file for bankruptcy.
“My heart is broken,” Usas wrote on Instagram. “I am so grateful for every moment, every conversation, every employee and every customer who makes Primp what it is today.”
-
Founded in 2010: Primp Boutique opened its first store on Selby Avenue in St. Paul, Minnesota, in September 2010, with the founders’ goal to provide a trendy yet affordable “cheap chic” fashion boutique experience, according to Minneapolis-St. Paul Magazine.
-
Early expansion: Over the next few years, Primp expanded throughout the Twin Cities metro, expanding from its original St. Paul location to multiple stores covering Approximately 6 locations by 2015shared the Minnesota Daily.
-
Peak Footprint: In its heyday, the chain Nine physical storesThe company not only has locations in Minnesota, but also in cities like Sioux Falls (South Dakota) and Fargo (North Dakota), according to Minneapolis-St. Paul Magazine.
-
Business model and culture: Primp is known for offering a curated selection of on-trend women’s clothing and accessories at affordable prices (most under $100) and a boutique shopping experience with personalized service, the Minnesota Daily reported.
-
Further expansion: In 2024, Primp opened a store in downtown Fargo to represent its First location in North Dakota Inforum wrote, highlighting the continued growth that preceded the recent decline.
-
Layoffs begin (~2018): The company began reducing its physical footprint as early as 2018, and the coronavirus pandemic exacerbated the challenge of maintaining foot traffic and in-store sales, Minneapolis-St. Paul Magazine reported.
-
Store closed: Minneapolis-St. Paul Magazine added that multiple stores have closed through 2025, with several metro and regional stores closing before final closures were announced.
-
Final closures announced (2025): In December 2025, the Primp founder announced on his Instagram page: All remaining stores will permanently close on December 23, 2025after 15 years of operation.
-
Liquidation sale: The company also shared on Instagram that it is running a farewell clearance sale with deep discounts (such as up to 50% off) to clear inventory as the chain ceases operations.
Current market conditions have hastened the chain’s demise.
“In 2024, brick-and-mortar retailers were impacted by inflation and consumers’ increasing tendency to shop online to find the best deals,” Coresight Research CEO Deborah Weinswig said in a statement reported by the Chicago Sun-Times.
“Last year, we saw the highest number of closures since the pandemic began… We continue to see a trend of consumers choosing the path of least resistance.”
Coresight, a research and advisory firm specializing in retail and technology, doesn’t expect the market to improve.
“Following a surge in store closures in 2024, Coresight Research expects the number of closures to increase further this year, to about 15,000. Coresight Research expects the number of new store openings nationwide to remain stable this year at about 5,800 stores. The total number of U.S. store closings in 2024 will be 7,325, which is the highest number of store closures since 2020, when Coresight Research tracked nearly 10,000 stores stores closed,” it shared in a press release.
RELATED: Kroger CEO points to shocking shift in how customers shop
This article was originally published by TheStreet on December 12, 2025, and first appeared in the Retail section. Click here to add TheStreet as your preferred source.