British department store Debenhams' brief foray into Australia is over, with the chain planning to close its only local store early next year.

The retailer opened its doors in the St Collins Lane shopping centre, which connects Melbourne's Collins and Little Collins street, with great fanfare in late 2017, offering exclusive designers and products direct from the UK.

Debenhams has said it will shut its only Australian store.

That was to be the first of about 10 Debenhams stores planned for Australia through a franchise agreement with local retail group Greenlit Brands, which owns Harris Scarfe, Best & Less, Freedom, Fantastic Furniture and Snooze.

But Greenlit Brands' ambitions appear to have been put on ice, after Debenhams collapsed into administration in the UK in April and said it would close and sell 50 of its 241 stores to pay off lenders.