Bargain Central Mountmellick is also citing a lack of footfall caused by roadworks in the town.
Another midlands business has announced the decision to close, citing rising costs.
Bargain Central Mountmellick has been trading for five years, but says a reduction in footfall as a result of "roadworks all over the town" and "non-stop increases" to expenses have made the "small business unsustainable for the future."
It took to social media to thank everyone who supported the shop and its work experience students, since it started operating in 2018.
CEO of Laois Chamber Alliance, Caroline Hofman, says businesses in the county need urgent support to quell the high number of closures: