Home / Business and Economy / Store Closures Accelerate: Is Fashion Doomed?
Store Closures Accelerate: Is Fashion Doomed?
13 Dec
Summary
- 15,000 US retail locations projected to close in 2025.
- Major retail bankruptcies rose to 51 in 2024.
- Fashion and apparel stores lead closures, Primp shuts down.
The fashion industry faces unprecedented challenges as U.S. retail closures accelerate rapidly. Projections for 2025 suggest around 15,000 store locations will permanently close, more than double the number of new openings, with bankruptcies significantly contributing to this trend. This contraction is reshaping the physical retail landscape.
Retail bankruptcies saw a substantial increase, reaching 51 major cases in 2024, up from 25 the previous year. This rise has led to significant contraction in physical store footprints. Specifically, the fashion and apparel sector has been hit hard, accounting for nearly one-third of all store closures in 2025.
Adding to these closures, Primp, a women's fashion retailer known for its "cheap chic" approach, announced it is shutting down all its stores and online operations. Founded 15 years ago, Primp aimed to offer accessible, stylish clothing but ultimately succumbed to current market pressures, marking the end of its nine-store presence.
