WA homewares giant Empire has announced it is closing its Beaufort Street store in what could be the final nail in the coffin for the embattled shopping strip.

The company announced the news on Instagram this afternoon.

“SAD NEWS: Empire bids farewell to our Highgate Store, thank you to all our customers for your support over the last 12 years,” the company wrote on Instagram.

The store is holding a 70 per cent off sale on its furniture and homewares.

Empire is the latest in a long line of Beaufort Street businesses to close its doors amid some concerns over high rents and water works, which have reduced foot traffic in the area in recent months.

Last month, homewares store Baker & Shuhandler announced it was closing its Mt Lawley store after 13 years after the company’s lease on the strip ended.

A string of bars and restaurants have also closed including Five Bar, Cantina 663 and Red Cray.

Clarences wine bar, which also announced its closure last month, hit out at the “greed and ignorance” of landlords in the wake of its sudden eviction from its Beaufort Street address.