Shops can shut down for more reasons than not having enough work, such as tariffs and regulations affecting CoGS, low hiring capability, CoGS changing (like energy), and especially tool and material shortages (also affected by the same issues). I remember one of my bosses closing his shop due to these issues, as well as the compounding factors of corporate buyouts of smaller outfits and job offshoring, too. America is an expensive place, and market makers do not like expensive places.