Tracey Ross Closing Los Angeles Store

No boutique is safe from the recession. High-end boutique Tracey Ross is the latest store to fall victim to the troubled economy.

Tracey Ross will be shutting down its Sunset Plaza location soon. She opened the shop in 1996, after initially opening on Robertson Boulevard almost two decades ago.

Ross told Women's Wear Daily, "Of course it's the economy. When wealthy customers who can afford to pay retail are getting 80 percent off at Saks . . . it makes it impossible for smaller boutiques to compete."

Apparently having regular celebrity clients like Kate Hudson can't even save the store. RIP Tracey Ross Los Angeles. Hopefully everything will be on clearance, that should drive some traffic there.