Rising costs have been hitting households and businesses across the city and beyond.
Many are facing an uncertain winter and businesses are cutting their hours or deciding to close entirely due to the severe rise in costs.
A pre-loved clothing business in Derry has made the announcement that they have decided to close their doors for the foreseeable future as keeping their business open in the current climate was not feasible.
Read more: Cost of living energy charity to expand in Northern Ireland in coming weeks and months
Preloved Threads had opened only last December in the heart of Derry's walled city, on Waterloo Street.
Championing fast fashion, they provided fashionable new and pre-loved clothing and accessories, including pieces that may have only ever been worn once for a special occasion.
Saving many pieces from landfill and platforming slow fashion, preloved threads had been a popular spot for people to find a special item at an incredibly cheap price.
However, the rising costs of running a city centre business caught up with Preloved Threads, and this week they announced that their doors are closing.
In a social media post, Anne from Preloved Threads said: "It has been a difficult decision for me to make but with the constantly rising costs of rent, rates and electricity, it is now clear that it is simply is not viable to keep the shop open. Therefore Preloved Threads will be closing its doors.
"Thank you so much to all our wonderful customers who supported us by visiting our shop, sharing our posts on social media and sending new customers our way by word of mouth. It's been great getting to know you all and your custom was much appreciated. We hope to see you all at some stage in the future.
"Next time around it will be bigger and better."
While customers will have the comfort in knowing that Preloved Threads hope to come back some day, the announcement is a stark reminder of the troubling times ahead for local business.
READ NEXT:
NI mum on how autistic son inspired new higher education qualification
Woman reunited with wedding ring after it was lost on beach for two months
To get the latest breaking news from Co Derry straight to your inbox, sign up to our free newsletter.
