Ingledew's Shoes is closing its doors for good, just a few years after celebrating a century of business in Vancouver.

The company announced the news in a letter to customers on Monday.

CEO Bill Ingledew said the closure stems from the rising cost of rent and wages, coupled with falling sales.

"Unfortunately, our little company has, over the past few years, increasingly felt the impact of the rapidly changing retail environment," he wrote. "Even our entrance into the world of online sales could not stem the tide of slowly eroding revenues."

Ingledew's flagship store at 900 West Hastings Street. (Ingledew's Shoes)

Ingledew's Shoes was founded by William Wright Ingledew in 1915. Its first storefront opened on Granville Street that same year.

The business remained family-owned and Vancouver-based for more than 100 years.

Ingledew's Shoes was located at 625 Granville Street from 1925-1971. (Ingledew's Shoes)

"During my own nearly 50 years with Ingledew's, a company that this spring celebrated 102 years of continuous business in British Columbia, my life also has been enriched by having encountered and befriended so many of you," wrote Bill Ingledew, who is the third-generation CEO.

Ingledew's currently has locations in five Metro Vancouver malls, along with a storefront downtown on West Hastings Street.

A receptionist with the company said they will likely close for good sometime in the summer.