Iconic Australian craft retailer Lincraft will close all its stores nationwide after 80 years in business. 

The brand has more than 60 stores across Australia and New Zealand, with news of the store closure announced on Tuesday morning.

'Today, we are sharing news that is both difficult and deeply emotional for everyone at Lincraft,' the company said.

'After more than 80 years of serving creative communities across Australia and New Zealand, we have made the decision to progressively close our physical store network over the coming months.

'We remain committed to serving our customers throughout this period and helping you continue the projects and passions you love.

'Importantly, Lincraft will continue to operate online, allowing customers to shop with us as the transition unfolds.' 

The business thanked customers for its support and Daily Mail understands stores will close in the coming months.

'For generations, Lincraft has been more than just a store,' the company said.

'It has been a place where ideas came to life, where families learned to sew and knit together, where projects were started, gifts were lovingly handmade, and lifelong creative passions were nurtured.

'We understand that Lincraft holds a special place in the hearts of many customers, and we know this news will be disappointing for those who have shared our love of creativity, crafting, sewing, knitting, and home projects.'