Jean Jones and Platform have sited poor trading conditions over the past summer and winter seasons as to the reason behind shutting its doors.
Gina and Keri Condon purchased Jean Jones out of receivership in 2010 but appointed liquidators this month after the Gisborne store closed among several others.
With only six of 22 stores currently in operation, it is understood the owners owe approximately $1.8 million.
Some Jean Jones stores will continue to operate while sale options are assessed.
Auckland-based liquidator Chapman-Atkins has been mandated to sell the company.