The arts and crafts store Gadsby’s, situated on High Street, is set to close its doors for the last time on July 19.
There are two Gadsby’s stores in Lincoln, with the second based at the bottom of the High Street, opposite Tesco Express.
That store, which is focussed more on greeting cards, is currently set to stay open.
Gadsby’s employs around 40 staff across their five stores that are located in Lincoln, Leicester, Walsall and Leeds.
The retailer sells a range of art equipment such as paints, craft tools, art and graphics equipment.
The chain dates back to the 1890’s when it was set up by the current senior directors great grandfather, Frank Gadsby. The other stores were all set up by his children.
Peter Gadsby, Managing director, said “It is expensive to operate a store on any High Street, this all boils down to costs.
“Due to the price of rent, salaries and other expenses it was not a feasible business. I also feel that the local councils do not do enough to drive people onto the High Street.
“Our other Lincoln store will remain open and obviously this gives us the ability to solely focus on them.”
Due to the closure, everything in store is reduced by 25%.