The Original Factory Shop on Station Street is set to close at the end of December, putting 15 jobs at risk in yet another blow for the struggling high street.
The announcement was made on the store's Facebook page yesterday (November 27), which said: "Unfortunately, the store is Kirkby in Ashfield will be closing down at the end of December.
"We would like to take this opportunity to thank our customers who have shopped with us over the years, it has been a pleasure to be part of the community and we will miss it more than you know!
"We have lots of closing down offers going live over the next few weeks, so pop in and grab yourself a bargain!"
It is not yet known if any jobs will be lost as a result of the closure.
The store is now holding a sale, which includes 25 percent off fashion and footwear.
A spokesperson for The Original Factory Shop said, “It’s a great disappointment to have been served notice on this store.
"We tried really hard to come to a suitable agreement with the landlord; especially as this is a store that has been performing well and where we are proud to play an integral part in the community.”
The discount department store is closing 32 stores, blaming poor trading conditions for its Company Voluntary Arrangement.
A CVA is similar to a personal Individual Voluntary Arrangement, where the creditors can be paid over a fixed period.
If creditors agree, the limited company can continue trading.
The CVA document stated that the company had net liabilities of £286m, and had been underperforming “for some time”.
As reported by the Retail Gazette, in 2017 the retailer reported a profit drop of £3.1 million, despite turnover rising by £5 million to £190 million.
The Original Factory Shop is the latest victim of tough retail conditions, with House of Fraser, Marks and Spencer and Mothercare, all announcing they are closing branches.