Yes- and my understanding is that a lot of that has to do with the credit squeeze. Banks aren't giving lines of credit like they used to and are reducing or eliminating existing lines of credit as well, so a store has to sell in order to buy, instead of buying on their line of credit. A lot also has to do with the huge sudden spike in fabric prices- it can't simply be absorbed anymore.
(I should note that I am not currently in business, but that this is my understanding based on the facts I have at hand and my knowledge of economics/small businesses. If I have erred, which is entirely possible, I don't mind at all having it pointed out! That's how we learn!) :)