The women's shoes store, owned by long-time Ballarat business Faull's, announced to staff all three locations - Ballarat, Hobart and Launceston - would be closing due to a "dramatic downturn in business".

"We have given clear outlines of our decision which have been incredibly hard to make and we thank everyone for their compassion and understanding," Faull's Shoes managing director Ben Faull said to staff in a statement on Friday.

LEAVE YOUR MEMORIES OF THE STORE AT THE BOTTOM OF THE ARTICLE

"We have calculated all outstanding monies to be paid including hours worked, holiday pay and long service where applicable...

"We again thank you for your efforts during your time at Polly Shoes..."

Polly Shoes, a store for "fashionable customers" according to the Faull's website, also announced the closure on its Facebook page on Monday, giving thanks to its supportive customers.

"Thank you to our amazing & loyal customers. Its been an amazing journey - we loved sharing our fashion with you," it said.

Remaining stock will be sold and there is no set date for the closure.

SEE THE FULL POST BELOW

LEAVE YOUR MEMORIES OF THE STORE HERE

Have you signed up to The Courier's variety of news emails? You can register below and make sure you are up to date with everything that's happening in Ballarat.