After nearly 80 years in business, family-owned Texas furniture store Louis Shanks is closing down its business.

As reported by Furniture Today, Louis Shanks will host a liquidation sale beginning Thursday, September 21, at the last remaining store in San Antonio, at 11035 IH-10 West, and its flagship store in Austin.

The furniture retailer first opened in 1945, led by its namesake Louis Shanks and John Stanford, Furniture Today said. The business had been operated by the Shanks family for four generations, with the San Antonio store opening in 1983. The company previously had a second Austin store, and more locations Houston and Sugar Land, which have all since been closed.

"An independent, regional retailer became nationally recognized by the industry and its customers for its fine furniture selection and impeccably vignetted showrooms," the industry website said.

Furniture Today reported that Planned Furniture Promotions will be spearheading the liquidation sale for Louis Shanks. Senior vice president Tom Liddell said in a statement that his company is "honored to be a part of [the] historic moment" with the long-established furniture retailer.

"This is a celebration of their decades of excellence and an extraordinary opportunity for consumers in the Austin and San Antonio areas to experience the legacy of Louis Shanks Furniture one last time," Liddell said. "This marks the end of an era, and we at PFP are thrilled they have entrusted us with this pivotal project."

A combined 200,000 square feet of merchandise will be liquidated, according to the report.