Harris Scarfe has been place into voluntary administration.
The chain retailers has more than 66 stores, including in Albury, and employs almost 2000 staff nation-wide.
Harris Scarfe created 35 jobs in Albury when its Kiewa Street store opened in 2015.
Trading is expected to continue as usual across the Christmas period.
IN OTHER NEWS:
Deloitte Restructuring Services partners Vaughan Strawbridge, Kathryn Evans and Tim Norman have been appointed as receivers and managers by Harris Scarfe's lender.
Mr Strawbridge said there was more than sufficient assets to meet all employee entitlements.
- with AAP