The retailer has sold the debtor book for£5.9 million and the process of formally closing the business will now start.
House of Stirling made a loss of£2.3 million for the year to February 25.
The move is part of the group's ongoing strategy to dispose of its non-core businesses and focus on the home shopping division.
Last year, the group sold its television rental business Teleview and its financial services division, which comprised a small personal loans portfolio of about£10 million.
Earlier this month, N Brown bought womenswear catalogue Gray & Osbourn for£8.3 million as part of its strategy to expand the number of upmarket brands it operates and seize opportunities to develop its core retail business.
Seymour Pierce analyst Richard Ratner said: 'This is a positive move - House of Stirling was a dying business and it supports the strategy of moving the business upmarket.'