Members of One of a Kind Community Support's committee will work towards restructuring the business for the future, with former chief executive officer Michael Ticehurst soon to take the lead.
Creditors voted at a recent meeting for the association to enter into a deed of company arrangement (DOCA) to sort out financial affairs and appoint Mr Ticehurst to the position.
Administrator Andrew Barnden said the DOCA will allow for all debts to be paid in full and all outstanding amounts owing to employees to be paid.
"The [DOCA] has to be executed within 15 business days and then, following that, the association is handed back to the new interim committee, then I'll distribute the funds to creditors while the association will continue to move forward," Mr Barnden said.
"All premises will close down over the next short period of time, except for Tamworth's Hill Street store, sorting centre and community support centre on Denne Street."
Mr Barnden said the closing stores - Gunnedah, Armidale, Narrabri and Toowoomba - may open again in the future.
"There's a possibility under the new management that stores will reopen in due course, but it depends on how they're trading and how they will take [the business] into the future," he said.
All clothing and other items for sale in the stores will be sent to Tamworth's sorting centre, where they will be "put through the Hill Street premises". Gunnedah and Armidale's buildings will be "returned back to landlords".
The Namoi Valley Independent contacted Mr Ticehurst, but he said he could not provide more detail.
"Our small committee is unable to comment on any One of a Kind Community Support matters until we are formally appointed. We expect this to be around December 10," he said.
The closure came after the charity association appointed Mr Barnden because of concerns that "cash inflows [weren't] sufficient to cover future outflows".
The store is holding a sale on all of its remaining items before its final day of trading.
It first opened in October 2018 on Barber Street before relocating to Conadilly Street in August of this year.