Smith and Caughey's chair says a culmination of issues are forcing them to shut up shop

The flagship Auckland department store's told staff it'll close early next year - after 144 years in business.

Revenue's dropped 40 percent over the past five years - at its Queen Street and Newmarket stores.

Tony Caughey says they've survived depressions, covid and other disruptions.

But he says the business is no longer sustainable.

He says there've been times in their history they've got through, but now half a dozen things have come together all at once.