As reported last week, the Beetwell Street shop, which sells outdoor clothing and camping equipment, will shut on Monday.
A closing down sale is currently taking place.
It is understood five people face losing their jobs.
Yeomans was founded in 1904 when Walter Yeomans opened the first store in Chesterfield.
Sports Direct, which is owned by billionaire businessman Mike Ashley, took control of Yeomans in 2013.
We asked Sports Direct why it is closing the Chesterfield shop – but the firm did not get back to us with an answer.