Masterton's Shanton store will be unaffected by the receivership of Shanton Retail Limited.
The business went into receivership on Tuesday following a period of "difficult trading conditions," according to receiver Anthony Harris.
There have been several parties interested in buying the business throughout 2012.
The business will continue to trade,pending completion of a going-concern sale, and employees have been offered re-employment by the receiver. They would receive all outstanding wages within a week and were expected to receive their full holiday pay.
Customer entitlements such as gift vouchers, credits or refunds, or layby will be honoured in full.
