Nottingham fancy dress shop Magic Mirror is closing down after 32 years of trading in the city.
Owners of the shop on Derby Road blamed a fall in the value of pound, which has driven up the prices of the costumes it buys in from overseas.
Increased competition from the internet was also blamed in a statement posted in the shop window.
“It’s the same story across nearly all retail sectors and unfortunately we are the latest victims of the downturn,” it read.
“We have loved being part of so many lives in Nottingham and to say we are devastated is a huge understatement.
“We will be open for a while longer and will be selling everything off, so please do come in and grab a bargain to remember us by.”
The shop started in a garage on Bentinck Road and grew to hold a collection of 3,500 costumes in its rental collection.
Customers have been posting messages of support on Facebook since the announcement.
“Gutted is a understatement,” wrote Mel Bassett.
“You guys were awesome when i visited and the customer service was fab. Will never get that anywhere else, wish you all the best.”
Mariam Donovan wrote: “I’m really so sorry to hear this. We have had so much fun as a family coming to you for all our last-minute fancy dress requirements and parties to boot. And such amazing service and kindness.
“I’ll never forget you coaxing me out of a giant strawberry into a saloon girl outfit shortly after I’d had Jack for a New Years party. You have endless patience and it is so clear you love your work. Sad times.”