Longstanding specialty craft retailer Lincraft has announced the closure of its store network after more than 80 years in business.

Once operating 67 stores in Australia and New Zealand, Lincraft said the decision comes after a “prolonged period of challenging retail conditions”, citing changes in consumer behaviour, increasing costs, and pressure from overseas, low-cost competitors.

The business – formerly known as Suzanne Silks – was bought and restructured by John Maguire and Brian Swersky, leading to the establishment of Lincraft Australia in 2005.

“Lincraft has been part of Australian and New Zealand communities for generations,” Maguire said. “This has been an extremely difficult decision, particularly because of the impact on our team members, many of whom have given years of loyal service to the business.”

The company’s stores will close progressively on an individual basis, Lincraft said, while also continuing operations through its website.

“Our priority is to support our team members through this transition and to communicate with them as clearly and respectfully as possible,” Maguire added.