One of Witham's best-known firms is to close after 35 years of High Street trading.
Drapers and haberdashers Coopers, which has stores in Newland Street, Witham, and High Street, Braintree, has gone into voluntary liquidation.
The firm closed its doors to customers within the last week. Two full-time staff and up to half a dozen part-time staff have been made redundant following the announcement of the closure.
Owner of the drapery business Tim Cooper-Cocks said: "Coopers has now ceased trading. The last five years have been a struggle and it has got to the point where I have had to call things to an end."
In March, Mr Cooper-Cocks announced plans to move Coopers to smaller premises in Witham, but now says the shop is simply not taking enough money to meet its commitments.
He added: "This is not an administrative receivership, Coopers is involved in a voluntary agreement with its creditors. I am winding up the partnership to meet its commitments."
The Witham premises are still owned by Mr Cooper-Cocks and he said he has no immediate plans to sell, though it was something the family might have to consider.
The Newland Street building also contains six other shops and businesses, including Unwins wine merchants. He stressed the future of all six tenants was secure.
Mr Cooper-Cocks regretted the closure of Coopers but said: "Being brutally frank we were trying to sell the wrong product. Knitting wool, haberdashery and dress-making materials do not command the demand they enjoyed previously."
The announcement Coopers is to close comes just days after it was revealed 25 jobs could be created with shops moving to the town. The mini-boom will come in the form of a new bakery, a fast food outlet, a health club and a cafe extension.
There are still plans to convert the Newland Street site into a restaurant. Planning permission has been granted and Mr Cooper-Cocks said he saw no reason why these plans should not still go ahead.
"It would be very beneficial for Cooper-Cocks to have this rental coming in," he said.
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