Kitson, boutique once frequented by Paris Hilton, closes all stores

LOS ANGELES, Dec. 12 (UPI) -- Kitson, the celebrity boutique made famous by the likes of Paris Hilton and Lindsay Lohan in the early 2000s, is preparing to close its doors for good.

The boutique's online shop is also shutting down, and a enormous sale with items ticketed at 30 to 50 percent off is underway throughout its 17 physical locations in California, Oregon and Nevada, the L.A. Times reports.

Despite its dim fiscal outlook, chief restructuring officer James Wong released a statement revealing the brand is negotiating with "interested parties" looking to take ownership and potentially maintain its foundation.

Kitson first opened in 2000, becoming a trend-setting force through the first ten years of the new millennium. By 2013, however, the brand's recession commenced as it reportedly received a $15 million credit line for refinancing. This year, Spencer Spirit Holdings, Inc., the company behind Spencer's boutiques, bailed out Kitson in the face of another steep decline.

Kitson was famously frequented by celebs including Hilton, Lohan and Britney Spears, who once entered the store sans pants at two in the morning. New York Magazine observes Nicole Richie, Rachel Zoe, Kimberly Stewart, Denise Richards, Hilary Duff and more were also fans of the California-based boutique.