Kingsmill's, London's own 148-year-old independent department store, has begun the final sale in the company's history.

Tim Kingsmill, store president, said in a statement "It has been a true privilege to be able to come to work every day and build relationships with our amazing customers and suppliers...We are looking forward to putting together one last sale to show our appreciation and say thank you to everyone for their unwavering support and dedication."

The company says it will be selling millions of dollars worth of merchandise at drastically reduced prices and the sale will continue as long as there is sufficient inventory.

Londoners taking advantage of the deals say they have mixed feelings, glad to get a deal, but sad to see the store - with all its memories - about to close.

Founded in 1865 as a dry goods store, Kingsmill's has been operating at its current downtown location in downtown London for all of its 148 years and is one of the few remaining independent, family-owned and operated department stores in Canada.

It remains unclear what will happen to the building at 130 Dundas Street once the store closes its doors.

A conditional offer made by a coalition of local non-profits fell through last month after a due diligence review of the building revealed more renovations would be needed than initially believed.