Retail chain Riot Art & Craft has closed its Bendigo store after parent company SLKALT went into liquidation last week, ending 46 years in operation.
The art supply store is one of 56 across Australia to be closed. Dye & Co have been appointed liquidators.
Director Nicholas Giasoumi said 140 permanent staff were owed about $3.5 million in wages and entitlements, while unsecured creditors, mostly landlords, were owed about $8.5 million.
It is understood the online arm of Riot Art & Craft will continue trading.
The shut down comes as retailers continue to struggle with the impacts of the coronavirus pandemic.
In August, the fate of several Bendigo clothing stores was thrown into limbo after Mosaic Fashion announced it would close up to 500 stores nationwide.
Mosaic Fashion owns brands including Millers, Rockmans, Noni B, Rivers, Katies, Crossroads, Autograph and W.Lane.
A company spokesman said it was too soon to know whether Bendigo stores would be among those to close.
The city has a Rivers, Millers and Crossroads in the CBD, a Noni B, Millers and Rockmans at Lansell Square and a Katies and Autograph in Bendigo Marketplace.
More recently, Bendigo Marketplace's Sanity store closed, with the city's remaining outlet trading at Lansell Square.