By Kelly Faircloth 1/28 1:30pm

Quincy Apparel cofounders. (Photo: QuincyApparel.com)

We’re not in free-fall just yet, but the horizon is beginning to look awfully cliff-like. First came beloved and press-feted Loosecubes, and now it seems that Quincy Apparel, the next-generation clothing company that was supposed to put sharp workwear within the reach of us grubby normals, is closing. Business Insider reports the company has just informed its customers via email that its online shop will shut down on January 30th.

The note added, “We want to thank all of our customers for your support over the last year and a half as Quincy grew from an idea to a full collection.”

The shutdown comes just a month after the departure of CEO Christina Wallace, leaving her cofounder Alex Nelson in charge.

The company’s website speaks of the founders’ unhappiness at working in corporate environments and being “forced into boring, ill-fitting, and often over-priced pieces that lacked any semblance of personality.” Surely they weren’t alone. Women’s magazines and tech blogs went gaga for the concept, and they popped up on the ”Start-ups: Silicon Valley” episode that seemed designed to transition to a season in New York, before poor ratings put that concept on ice.

It’s not yet clear what did Quincy in, but the founders might have had trouble raising the necessary capital for an e-commerce startup. The company seems to have raised some seed capital (though the details are murky), but Ms. Wallace also complained to AllThingsD last April about how hard it was to explain their concept to VCs:

“I think it has been interesting to raise for this,” Wallace said. “We are going to middle-aged investors who don’t get the market. They go ask their wives, who haven’t been in our market for awhile, and so there’s been some questioning as to whether this is a problem or a need. We need to launch and show the need.”

Fashion and tech have also had an uneasy relationship. This city is littered with fashion startups that are high on potential–and low on traction. Jonathan Bowles, head of the Center for an Urban Future, has previously used the sector to illustrate the point that even though there’s a flourishing startup ecosystem in New York City, plenty of individual businesses are going to die off:

“Many are competing in the same space,” Mr. Bowles told Betabeat, “For instance, look at all the companies in the fashion tech space. Already, at least one or two of those have shut down.”

Besides, how much customizing can you really do with height, weight, and bra size? And $228 for a blazer seems pretty damn steep.

We’ve reached out to the company and will update if we hear any more.

Follow Kelly Faircloth on Twitter or via RSS. kfaircloth@observer.com