One of Australia's leading art and craft retailers has closed all 56 of its stores, informing shocked employees that they no longer had a job over text message.

The liquidator of retailer Riot Art & Craft has confirmed its e-commerce arm was sold to a “related entity” prior to the business collapsing.

Riot Art & Craft goes into liquidation and closes all stores Over 50 outlets of Riot Art & Craft have been shuttered suddenly as liquidators take over the iconic brand, which owes millions.