Traceyros_donat_55122479_600 Tracey Ross, the L.A. boutique owner who has been a fashion fixture in Los Angeles for close to two decades, will close her namesake shop New Year’s Eve.

Ross opened her store on Robertson Boulevard in 1990 before moving up to Sunset Plaza in 1996. The hipper-than-thou boutique has drawn a dedicated following of top stylists and celebrities, such as Ashlee Simpson, Jessica Simpson, Mary Kate Olsen, Avril Lavigne, Jennifer Lopez and Britney Spears, who needed a police escort to get outta Ross’ Sunset Plaza store this past April.

Asked the reason for the closing, Ross tells WWD, "Of course, it’s the economy."

Darn. No more shopping for hip designers like Vivienne Westwood, Derek  Lam, Roland Mouret and Chloe, or picking up fashion and pop culture books,  expensive handbags and cutting-edge accessories.

Oh wait, we can’t afford them anymore anyway.

We have a feeling this is just the start of the high-fashion small boutique closings.

And definitely not a good harbinger for an interesting 2009 awards-season fashion show.

If there even is an awards season …

Photo: Tracey Ross will close her boutique on New Year’s Eve. Not so happy New Year. WireImage

Posted by:Elizabeth Snead