CHICAGO, IL - Founded in 1963 by Christ Kamberos, Sr. and Frank Kamberos, European-style supermarket Treasure Island has served the Chicago metro domestic and imported goods for the last 55 years. But, last week, the family-owned grocery chain alerted its employees and customers that it would be shuttering its six-store network October 12.

“We have done everything we could to attempt to get the company on solid ground to try to operate for another 55 years,” CEO Maria Kamberos said, according to a note to employees. “Unfortunately, given the current industry conditions, it has been impossible for us to continue to operate without losing money.”

According to the Chicago Tribune, the grocer currently has all of its product items on sale and has posted signs in its store windows reading “Everything must go!” and “All sales final.”

The news source reports that Treasure Island first informed its corporate employees Friday afternoon before notifying the chain’s hundreds of store employees that all locations would cease operations October 12.

Neither President Christ Kamberos, Jr. nor Maria Kamberos have provided further comment.