The front windows are still lit, but the racks inside are thinning fast. Sale signs hang over rows of suits and tuxedos as shoppers move through Price Stores’ Centerville location, lifting garments off hangers for the final time.
After 75 years in business as one of Ohio’s longest-running independent formalwear retailers, the Dayton-area staple is in liquidation mode, counting down to permanent closure on December 31, 2025. What pushed this formalwear institution to collapse—and why no buyer stepped in—comes next.
Jobs in Jeopardy
The closure eliminates the livelihoods of the store’s dedicated workforce as Price Stores winds down operations. For a specialty retailer offering tailoring, tuxedo rentals, and bridal services, that workforce represents decades of skill and customer relationships.
According to owner Edd Wimsatt, the business supported “great employees” whose careers are now disrupted. Their job losses ripple outward, threatening household income and reducing retail activity in the Miami Valley.
As independent stores disappear, replacement jobs—often lower-paying or remote—remain uncertain, intensifying the human cost of a single storefront’s closure.
Dayton Roots
Price Stores opened on February 15, 1950, at Fourth and Jefferson streets in downtown Dayton. Within six months, the store quadrupled in size as demand surged for formalwear and tailoring.
Over time, it grew into a multi-floor retail anchor, serving as the region’s primary clothier and cementing its status as a formalwear empire.
Customers returned for generations, relying on Price Stores for milestone moments—graduations, weddings, and proms—cementing its role as a trusted fixture in the city’s retail landscape.
Relocation Pressures
In 2020, Price Stores relocated from downtown Dayton to 553 Miamisburg-Centerville Road in Washington Township, hoping to adapt to shifting shopping patterns. But the move came amid structural headwinds.
The U.S. now has about 24 square feet of retail space per person—nearly twelve times more than countries like Germany or approximately 1.4 times more than Canada. As online shopping accelerated, foot traffic thinned, leaving even established retailers struggling to justify physical space.
Permanent Shutdown
Owners Edd and Nancy Wimsatt announced that Price Stores will close permanently on December 31, 2025. Despite searching for a buyer, no successor emerged.
Edd Wimsatt acknowledged the reality plainly: “I wish I could have found a buyer. That’ll be my biggest disappointment. I know it can be done, but it just takes money and the energy and I’m out of both.”
After nearly three decades of ownership, the couple chose closure over prolonged decline. The decision marks the final chapter of a business that survived wars, recessions, and retail revolutions—until now.
Dayton Revenue Hit
The closure removes retail activity from the Dayton-area economy, beyond sales to local vendors, service providers, and event-driven commerce.
Its absence forces customers toward national chains or online platforms, accelerating local retail leakage. For Centerville and the broader Miami Valley, the shutdown represents more than lost employment—it erases a dependable economic and cultural node.
The Human Toll
For Edd Wimsatt, the closure coincides with his 76th birthday on December 31. Health concerns and retirement plans weighed heavily after his wife Nancy stepped away in 2014, closing their associated bridal and prom business.
Longtime employees now face abrupt transitions, while loyal customers mourn the loss of a store tied to life’s biggest moments. Wimsatt noted: “I look forward because it’s time to enjoy retirement and time to say this has been a good run. I’ve met a lot of nice people, had great customers, great employees.”
Liquidation Rush
Price Stores has launched a full liquidation through year-end, clearing suits, tuxedos, outerwear, fixtures, and office furniture.
Shoppers sift through remaining inventory as “going-out-of-business” signage fills the store. Despite a yearlong effort to find a buyer, no serious offers materialized. The liquidation isn’t just about inventory—it’s the physical dismantling of a 75-year legacy, rack by rack.
E-Commerce Surge
Online retail now accounts for 16.1% of all U.S. retail spending, representing approximately $1.2 trillion of a $7.4 trillion market. In 2000, that figure was under 1%. For formalwear retailers, the shift is especially punishing.
Convenience, price transparency, and shipping speed favor digital platforms, while changing fashion norms push consumers toward less formal attire—eroding demand for tuxedos and specialty tailoring.
A JFK Connection
Price Stores once dressed future president John F. Kennedy. In 1959, Kennedy needed black-tie attire for a Dayton Bar Association speech, and Price Stores supplied the tuxedo.
The moment symbolized the store’s stature at mid-century—a local business intersecting with national history. Today, that presidential footnote underscores the contrast between past prestige and present vulnerability.
Owner’s Regret
Edd Wimsatt first worked at Price Stores as a college student before purchasing it in 1996 after leaving corporate life. His deepest disappointment isn’t closing—it’s failing to find a buyer.
He believes the business model could still work with sufficient capital and energy. But after years of effort and declining retail conditions, the window closed, leaving retirement as the only viable exit.
Ownership Saga
Under the Wimsatts’ ownership, Price Stores operated for 29 years, navigating recessions, mall decline, and the rise of digital retail. Nancy Wimsatt retired in 2014, closing their bridal shop, while Edd continued running the core business alone.
Without a family successor or external buyer, leadership ends on December 31. The story mirrors a broader pattern confronting aging small-business owners nationwide.
Buyer Hunt Fails
For over a year, the Wimsatts searched for someone to continue the business. None committed. Shifting consumer preferences—from tuxedos to simpler suits or casual wear—undermined future projections.
Investors hesitated amid declining foot traffic and rising costs. As liquidation proceeds, the failed sale highlights a sobering reality: even profitable legacy retailers can become unsellable in today’s market.
Outlook Bleak
Industry experts view Price Stores’ fate as emblematic of independent retail’s decline. Overcapacity, e-commerce dominance, and succession challenges leave little room for recovery. Wimsatt summarized it bluntly: the store still did business, just not enough.
Without policy intervention or structural change, similar closures are expected to continue—quietly erasing decades of local commerce across the country.
Future Unknown
What comes next for the Centerville location remains unclear. Customers now search for new tailoring and formalwear options, often turning online or driving farther.
For Wimsatt, retirement means time with family and long-delayed hobbies. For Dayton, the question lingers: how many more independent retailers can vanish before the character of local shopping changes permanently?
Policy Gaps
Ohio offers limited targeted relief programs aimed at specialty retailers disrupted by e-commerce. While antitrust scrutiny focuses on large platforms, small businesses often fall through the cracks.
High retail square footage per capita intensifies competition, but incentives to downsize or transition are limited. Price Stores’ closure underscores how policy frameworks lag behind structural shifts reshaping American retail.
Global Retail Echo
The pressures facing Price Stores aren’t uniquely American. Canada and Germany, with far less retail space per capita, have also seen independents disappear as online platforms expand.
Formalwear retailers worldwide report similar struggles as dress codes relax and digital options dominate. Dayton’s loss reflects a global retail recalibration—one that increasingly favors scale, logistics, and algorithms over legacy.
No Legal Snags
The wind-down has proceeded without lawsuits, regulatory disputes, or environmental concerns. Inventory liquidation follows standard Ohio retail closure rules, keeping the focus on an orderly exit.
With no legal barriers, the countdown continues uninterrupted toward December 31. The simplicity of the shutdown contrasts sharply with the complexity of forces that made it inevitable.
Cultural Farewell
For generations, Price Stores symbolized Dayton’s formal traditions—prom nights, wedding days, and milestone celebrations. As fashion shifts toward casual norms, those rituals fade.
Customers share stories spanning decades, marking the store’s role in personal histories. Its closure represents more than economic change; it signals a cultural transition away from the communal rituals once anchored by local retailers.
An Era’s Signal
The collapse of Price Stores sends a stark message: longevity no longer guarantees survival. Even a 75-year legacy, presidential connections, and loyal customers couldn’t offset structural retail forces.
As Ohio loses another independent institution, the warning spreads to small retailers everywhere. Adaptation, succession, and scale now determine survival—and for many, time has already run out.
Sources:
“Price Stores is closing after 75 years in business.” Dayton Daily News, 14 Dec 2025.
“Dayton’s Price Stores closing after 75 years, inviting final visits and farewells.” Dayton 24/7 Now, 14 Dec 2025.
“How has online shopping changed the retail industry?” USAFacts, 23 Nov 2025.
“Price Stores owner: 75-year milestone the result of ‘service, selection and value.'” Dayton Daily News, 16 Feb 2025.