Family-owned Birchalls bookstore has been on the market since March 2016, but no buyer has been found.

The store premises on Brisbane Street, which has housed a book store since 1844, was sold in November.

Managing director Graeme Tilley told The Examiner on Thursday that the “heartbreaking” decision to cease trading had been made, after 10 months on the market.

“We were hopeful that we would be able to find a buyer, but you’ve got to pick a time,” he said.

Mr Tilley said the sale of the property increased pressure to make decisions about the future of the business.

“We are still for sale, and ... because it’s such a diverse business, there are different sections of it that we can sell off,” he said.

“The education side works quite independently to what we do here at Brisbane Street, it’s focused in Hobart.”

The books, toys, games, magazines, art and gift departments in the Launceston store are now being reduced with no further restocking taking place.

Of Birchall’s education stores in Hobart and Devonport, Mr Tilley said the directors remained hopeful a buyer would be found to retain the stores for local schools and universities.

The business employs 35 staff at the Brisbane Street store in Launceston, two at Hobart, two at TasTAFE in Campbell Street, and one at Devonport.

Six staff will be retrenched by the end of January as the business prepares to close.

Brisbane Street’s education department is in the process of being moved downstairs, replacing the magazines beside the stationery department in time for the busy back-to-school period.

“We assure the schools that we’re here for back-to-school,” Mr Tilley said.

Mr Tilley said it was difficult to name the precise date Birchalls would close its doors for the last time, as stock levels, sales and other factors would influence that decision.

A.W. Birchalls & Sons has been owned by the Tilley family for nearly 50 years.