THE fire that destroyed the iconic old Barr's Store on King Island is now a police investigation.

Yesterday locals were still reeling from the shock of losing the building, which stood in the centre of Currie until Sunday morning's fire.

The blaze meant the loss of the island's only chemist, the newsagent, a coffee shop, a tourism business, and a home.

But it also signified the loss of a central meeting point and many people who lived on the island hold fond memories of the store.

The three-storey building is believed to have been built in the 1920s by the Burley brothers who established a shop, until it was bought by Vera and Stanley Barr in the early 1940s when it became known as the Barr's Store.

Mr and Mrs Barr ran the island's department store downstairs, along with their son Neville, and lived in the upstairs apartment, sometimes holding town cocktail parties in their home.

Neville eventually took full responsibility of the store with his wife Barbara who said her husband worked in the shop for a total of 42 years until their retirement in 1988.

"I can't believe it. A lot of history has gone," Mrs Barr said.

"At one stage we employed 14 people. The island was pretty busy, back when the mine was in full swing, and we had another store at Grassy."

Their daughter Amanda Sundstrup described the Barr's Store as a "mini Myer".

She said the store had a newspaper section and sold menswear, womenswear, fine china and jewellery, and opened every day of the year except Christmas and Good Friday.

"Dad used to buy in all the engagement rings for people on the island," Ms Sundstrup said.

"He loved being in the shop, he absolutely adored serving people.

"'He also loved fine China and had very good taste."

She said the loss of the store would leave both a physical and emotional hole.

"The shop was an important part of the social fabric of the community," she said.

Yesterday police took over the investigation of the fire. The cause of the blaze was yet to be determined.