Women's clothing store Rockmans will close on October 27, as per a notice on the front of the shop.

Best&Less will also not renew its lease on the 1010-square-metre property at 127-129 Brisbane Street beyond November 14. Its final day of trading will be November 29.

In a statement, Best&Less stated it was "disappointed" it could not reach an agreement with the property landlord.

"As a national retailer we have a strong view on market value and conditions for our store leases and unfortunately in this instance, the landlord's view and ours were not aligned," the statement reads.

"We have been serving the mums of Launceston and her family for a considerable time and wish to be able to continue to do so in the near future.

"At this stage Best&Less does not have any agreement on a new location and we would certainly be encouraging any landlords with a great retail location in Launceston with a trading floor size of 700-square-metres-plus to contact our property team directly.

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"We want to operate a store in Launceston and are open to doing business there in the future as long as the rental cost and contribution it makes to our business is profitable."

Knight Frank Tasmania director Rob Dixon said negotiations for a future tenant were yet to be finalised.

The advertisement for the shopfront lease outlines "major works" to be undertaken within the property, including the installation of escalators to open up the first floor to further retail options.

The works are also planned to "increase pedestrian flow" between York Street and the mall. These works will be completed before a new tenant moves in.

Rockmans did not respond to a request to comment.