Auckland's Smith and Caugheys says it has explored every avenue to keep the business afloat - as it announces it is closing for good

The department store famed for high-end goods and Christmas window displays, will shut its doors for the final time by July 31 - with the loss of 98 jobs.

The business proposed a closure in May last year - but opted to operate at a smaller scale - shutting in Newmarket and trimming offerings on Queen Street.

Acting Chief Executive, Matt Harray, says it has been hit with the perfect storm of declining sales, reduced foot-traffic, and city-centre disruptions.

He says it is a deeply emotional time for its team, suppliers, and loyal customers.