KSI auto parts is being sold by KSB.
This follows the news last month that KSB would be closing its KSI store in Melbourne.
It was reported that KSI was being sold to a Chinese company and the deal would have seen KSB open its KSB Auto Parts outlet in Sydney.
KSB will also close its K-Mart store in the city.
The news comes after a week in which KSB, a leading Australian manufacturer, announced that it would be laying off more than 100 staff.
The KSB website says it will be closing the Melbourne branch in October, and the Melbourne site will be closed in November.
KSI’s website said it would have “open and available” stock for customers who wanted it.
“KSI Auto parts is currently undergoing a transformation, which will result in the closure of our Melbourne KSB store in October,” it said.
KSJ says the closure means KSB’s Sydney branch will be the only one in the country with KSB auto parts.
The company said the closure was not a “last resort”, but the company is not making any further announcements about the closure at this time.
KSPE’s decision to close KSB comes after the company announced a “dramatic” reduction in its workforce last year, saying it was “unable to continue delivering the high quality, innovative auto parts products that our customers are looking for”.
In a statement, KSPe chief executive John Burchfield said the company was “not the answer to every problem in the automotive industry”.
“Our customers have been asking us to provide better products and better service for years and we will continue to do so,” Mr Burchman said.
“We have a great team, and will continue our commitment to the KSB family.”
KSB also has a strong presence in Victoria.
Its K-mart branch in the state’s central business district opened in November last year and KSB opened its Melbourne store in December.
KSN and K-Max were also closed in Victoria last year after they closed shop in the northern state.