Liz Claiborne outlet storefront

One of 87 Liz Claiborne outlet stores. Photo: JB Reed, Bloomberg News

The show's over, folks.

Liz Claiborne Inc. will be closing its 87 branded outlet stores by early 2011, the company has announced in a press release.

(Pause for a moment of silence.)

In a case of out with the old, in with the new, the company is now focusing on its current ventures with JCPenney and QVC.

As we previously reported, the new deal will see the Liz Claiborne and Claiborne lines being sold exclusively through JCPenney, while the Isaac Mizrahi-designed Liz Claiborne New York line will be sold solely through QVC.

"A number of factors precipitated this decision," explains CEO William McComb in the release.

"Our current fleet of Liz Claiborne branded outlet stores was originally designed and leased to handle clearance for many brands in our portfolio -- an outdated consumer proposition and one that no longer makes economic sense, given the vast changes we have made to our portfolio and business strategy over the past three years."

But fear not, outlet shoppers. Liz Claiborne brands like Juicy Couture, Lucky Brands, Kensie, and Kate Spade will continue to let the good discount shopping times roll.

Meanwhile, read our interview with the late Liz Claiborne's husband, Arthur Ortenberg.