The Original Factory Shop (Tofs) is shutting its Catterick Garrison store after running into financial difficulties.
The store at Princes Gate Retail Park is one of 32 across the country earmarked for closure.
The company has agreed a Company Voluntary Agreement to restructures debts and closes loss-making stores.
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A Tofs spokeswoman said: “(The CVA approval promises to put) the business on a much stronger, financial footing to deliver the turnaround plan.
“While this is a tough measure, reflective of the broader retail environment, it is good news that Tofs will be in pole position to push ahead with their new journey to growth strategy.”
The closure is one several recent blows to the Catterick Garrison retail park, which has seen the closure of its Prezzo restaurant and Brantano.
A branch of Office Outlet has now opened in the premises formerly used by the shoe shop.