Three Australian Geographic stores in Canberra are among those likely to close unless a new owner is found for the Australia-wide group.The company said on Monday it had begun a process which would likely lead to a "controlled exit" from its retail business in the first half of 2017.A spokesperson for the group said that while the business was unprofitable, alternatives to a controlled exit have and will continue to be considered."Staff and suppliers have been informed of the decision. It will be business as usual until we exit and all staff will receive their full entitlements."AGR is grateful for the ongoing support of staff, suppliers and customers and will work with all stakeholders to ensure a smooth exit from trading."Individual stores were referring enquires to the consumer phone line.Melbourne's Myer family, which founded the department store of the same name, has owned Australian Geographic since 2007 through its investment vehicle but has decided to exit the venture.In Canberra, stores in Belconnen, Woden and Civic join the 67 stores Australia-wide that are up for closure. The stores, which specialise in educational toys, scientific gadgets, globes and telescopes, once generated close to $50 million in sales a year but have been hit hard by online retailers.