A couple of weeks ago, Sony made it known that the PlayStation Store is set to be closed on PSP, PS Vita, and PS3. In the summer, the store was set to close across all platforms listed above. A recent announcement on the PlayStation blog has done a near complete turnaround on this decision.
President & CEO of Sony Interactive Entertainment, Jim Ryan put out a PlayStation Blog post announcing that the PlayStation Store will continue operations on the PS3 and PS Vita, but will cease operations on PSP as planned. You can read an excerpt from the blog post below explaining the process of this decision.
The PlayStation Store on PSP will cease operations on July 2, 2021, as originally planned.