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WWD takes another look at store closings in Los Angeles, making us wonder if this is going to become a quarterly exercise—they did the same thing back in January. One again, the news is grim. California's got the country's fourth highest unemployment rate, and the jobless just aren't swarming Robertson for high-end handbags. Small boutiques with aspirational (that is, young, stylish and broke) customers are particularly vulnerable, since people are less likely to shop on credit and since many of those stores moved into trendy areas back when rents were at their peak.
None of this is new, exactly, so let's move on to the rundown. Mulberry, Sergio Rossi, and Lambertson Truex all closed on Melrose Place. Montana Avenue in Santa Monica lost Jane Smith, Saylor and Il Primo Passo shoes. Venice is losing clothing boutique Wolf and shoe store Dewey. French Connection closed its Beverly Center and Pasadena stores, Frederic Fekkai is closing its Rodeo Drive flagship, and a skate shop called Active Ride has shut down four local outposts. In light of all this, the Malibu Lumber Yard sounds crazier and crazier, doesn't it?
· Down and Out: Store Closings Spread in L.A. [WWD, subscription req'd]
· Discontinued: A Slew of Luxury Stores