Vintage Mill Works, which specializes in making vintage and handmade goods, is closing its doors on Nov 8.
The company said that it will remain open until further notice.
A spokesperson for the company told CNNMoney in a statement that it was closing its retail store on the first floor of its headquarters in the heart of downtown, just outside New York City, in order to save money.
It said it will continue to operate through the end of November and will continue working on the future of its business.
Vintage Mill Works will continue its work to grow the brand through the new retail and distribution channels, it said.
The store’s closure follows other recent closures in the industry, including those of Urban Outfitters and Urban Outlet in 2015.
The closures are part of an industrywide trend of companies exiting the business as a whole.
In the last year, there has been a 30 percent drop in new retail openings and a 25 percent decline in the number of new retail jobs, according to a report by The NPD Group.