Easton’s Ltd., a clothing store that has tailored men’s suits for 15 years in downtown Lawrence, is going out of business.

The store, 839 Mass., will close once owner Greg Easter can sell off the 650 suits and the rest of his $500,000 inventory that no longer fits the Lawrence-area market.

He figures to finish out his lease, which runs through Dec. 31.

“It’s been a great 15 years,” Easter said Wednesday evening, as he prepared for an evening sale for between 200 and 300 of his preferred customers. “I don’t want to sound pessimistic, but the city of Lawrence is very laid-back. There’s no social pressure to look a certain way — which, in general, is a really good thing — but not when you sell clothing that’s based on a certain look and a certain quality level.

“It’s a difficult sell anyway. Then, when you add in the economy, it just doubles the deal.”

Easton’s opened Oct. 15, 1989, when Easter — fresh off graduation from Texas Tech University — and his father bought Whiteknight’s Menswear, which had been in business since 1952.

Easter said that until 2000, his business had grown every year and at one point had a dozen employees. Today the work force has dwindled to a full-time manager, full-time tailor and three or four part-timers, as the advent of “business casual” attire cut into sales.

In recent years the store has sold “premium denim,” club shirts and other casual wear, but the successful lines couldn’t stave off the inevitable.

“You can’t run a business with an organization like I have on that,” Easter said. “I need the suit business to make it work.”

Greg Easter, owner of Easton's Ltd., 839 Mass., is closing the store after 15 years in business. Easter is pictured at the store in this 1999 file photo.

Easter said he’d received “a few job offers” from customers but hadn’t settled on a plan for life after Easton’s. For now he’ll focus on selling the rest of his inventory and helping his wife, Beth Easter, continue the success of her women’s boutique, Ginger & Maryanne, 914 Mass., which is likely to expand into men’s jeans, club shirts and other menswear once Easton’s closes.

Easter said he expected interest to be high in occupying the Easton’s space, which offers 2,000 square feet of sales space at street level, plus about 2,000 square feet of basement storage and 700 square feet of office space upstairs.