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Chicago's Ultimo Shuttering
CHICAGO
Ultimo, one of the most influential luxury boutiques in the Midwest, is closing at the end of January.
Owner Sara Albrecht said despite a low double-digit decline in sales last year, she was not shutting strictly for economic reasons. However, Albrecht conceded the economy played a role in her decision.
People are perceiving luxury in a different way, she said. People don't have time for it anymore. The whole...