Administrators of Payless Shoes have advised they have not received any acceptable bids for the business as a whole or for individual store locations.
Accordingly, they have no option but to continue the controlled closure program for the entire business.
The majority of stores are expected to close by the end of February 2017.
Administrator Jim said Sarantinos said as a result of the store closure program, a major stock realisation sale has recently begun.
“Despite an extensive marketing campaign we have not received any acceptable offers that would enable us to sell all or part of the business.
"This is understandably a very disappointing outcome for the business and its employees who have given loyal service to the business over a number of years.”
Significant discounts will continue for the remainder of the store closure program.
The closure of the Australian store network will ultimately result in approximately 750 redundancies across the business.
Administrators have advised that all outstanding employee entitlements will be paid in full.