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Mr Hartley said while the store was one of the newest for the company, factors such as increased competition, online shopping and decreased foot traffic were to blame.
State media reported Mountain Designs Holdings showed a $7 million loss for the group in fiscal 2016, according to accounts filed with regulators.
Mountain Designs has nine retail stores in southeast Queensland and according to its website operates a total of 39 stores across the country.
It was started by Australian rock climber Rick White, who died in 2004, more than 40 years ago to meet the needs of the burgeoning mountaineering community.
YESTERDAY: A QUEENSLAND company will close the doors of its Toowoomba store and many others almost seven months after it opened in the CBD.
Mountain Designs opened in Ruthven St on June 17 last year in what was hailed a homecoming after its initial closure sometime in the 1990s.
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