Shoppers rush into the well-lit Price Stores in Centerville, Ohio. They grab suits and tuxedos from nearly empty racks marked with big sale signs. This Dayton-area shop, a key independent formalwear retailer for 75 years, now faces final liquidation. It will close for good on December 31, 2025.
Jobs Lost in the Miami Valley
The shutdown wipes out jobs for a talented staff skilled in tailoring, tuxedo rentals, and bridal services. These workers built their careers on years of know-how and strong customer relationships. Owner Edd Wimsatt calls them outstanding employees whose lives now face big changes.
The impact spreads beyond the store. It cuts family incomes and local spending in the Miami Valley area. Many replacement jobs pay less or demand a move elsewhere, adding to the hardship.
A Storied History in Dayton
Price Stores opened on February 15, 1950, at Fourth and Jefferson streets in downtown Dayton. Within six months, demand for formalwear and tailoring soared. The business quickly expanded its space four times and grew into a multi-story center.
For generations, it dressed people for graduations, weddings, and proms. The store became the top spot for formalwear in the region. It stood strong through wars, recessions, and shifts in shopping trends.
Even famous figures shopped there. The store once provided a tuxedo to John F. Kennedy for a 1959 speech to the Dayton Bar Association.
Move Fails to Stem Decline
In 2020, the store relocated to 553 Miamisburg-Centerville Road in Washington Township. Owners hoped to match new shopping patterns. But challenges mounted.
The U.S. has about 24 square feet of retail space per person. That is nearly 12 times Germany’s amount and 1.4 times Canada’s. Online sales boomed, reducing in-store visits. This squeezed even long-time businesses like Price Stores amid too much physical space.
Owners Choose Closure Over Struggle
Edd and Nancy Wimsatt have owned the store for almost 30 years. They announced the closure after a year of trying to find a buyer. No deal worked out.
Edd Wimsatt shared his regret: “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.” At 76, with health concerns, he wants retirement. His wife Nancy retired in 2014, closing their bridal and prom sections. The couple picked a clean end over ongoing fights. This closes a chapter that lasted through tough times.
Wide Economic and Cultural Impact
The closure hurts Centerville and the Miami Valley economy. It reduces retail revenue for local suppliers, service businesses, and event planners. Shoppers now turn to big chains or online sites, pulling money out of the community. Price Stores was more than a shop. It anchored Dayton’s culture and economy. Long-time customers mourn the loss of a place tied to key life moments.
Staff face sudden upheaval. Wimsatt looks ahead positively: “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 Amid Bigger Retail Shifts
A year-end sale now clears out suits, tuxedos, coats, fixtures, and furniture. Bright “going-out-of-business” signs draw crowds.
Online shopping drives much of the pressure. It accounts for 16.1% of U.S. retail spending—around $1.2 trillion out of $7.4 trillion. That share was under 1% in 2000. Formalwear hits hard from easy online buys, price checks, quick delivery, and casual dress trends. No legal troubles or rules slow the process. Ohio laws guide the smooth wind-down.
These forces hit independents worldwide. Stores fade in Canada and Germany too, due to e-commerce and excess space. Price Stores’ tale—no family heir, wary buyers, aging owners, mirrors U.S. struggles. Without help for smaller operations or transitions, more shops may close. This reshapes local business and questions if old-school retailers can survive in a world that favors big scale.
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.