End of the party for Priscilla of Boston

“At the end of the day, the decision is really based on looking at our resources and capital investments and looking to invest in Priscilla’s sister division, David’s Bridal,’’ said Brian Beitler, chief marketing officer for David’s Bridal.

Priscilla employs 61 people in Massachusetts - 21 in the store and 40 in the corporate office. Priscilla employees could apply for jobs at David’s Bridal, Beitler said, but there is no guarantee, and those jobs are scarce.

Orders for dresses will be fulfilled as promised, according to a Q&A posted on Priscilla’s website. Anyone whose dress is scheduled to be delivered after Dec. 31 should call the store to make arrangements.

Although Beitler would not say that the economy was a factor in the closing, bridal specialists and analysts say the business of weddings has changed in recent years, with many brides scaling back their budgets.

“They’re probably closing because they failed to realize how the market has shifted and changed,’’ said Shane McMurray, CEO and founder of The Wedding Report, a website that follows wedding trends. “Several of the big designers have already created lower price lines in different markets so they can penetrate down into new markets. That’s really what you have to do.’’

Priscilla is seen as the posh older sister to the less expensive David’s Bridal. The priciest dress at David’s retails for $1,400, while the most expensive dress at Priscilla costs $10,000. A study by the websites The Knot and the Wedding Channel found that the national average that brides spend on their dresses has changed little between 2008 and 2010 - just over $1,000, a number more in line with David’s price point.

Others say the company lost its vision after multiple sales and acquisitions. Federated Department Stores bought Priscilla in 2002, then sold it to David’s Bridal in 2007.

“You really need to have someone to steer the direction,’’ said Rachel Leonard, fashion director of Brides Magazine. “I’m surprised to hear it, but I think that’s what happens when a company becomes more corporate.’’

The closing of Priscilla marks the end of an important chapter of Boston fashion history.