The recession has claimed its highest profile victim in Windsor.
Today it was announced that John Goodwin Menswear in Peascod Street is to close.
The shop has been a fixture of the town since 1959. Its former managing director David Jessey was twice president of the town's Chamber of Commerce.
This week David, 66, said: "We have come to the conclusion it is no longer economically viable for us to continue.
"In past recessions it has been possible to see when it might end. But I can't see any end to this."
He said that business had recovered substantially in 2011 after being badly hit by the recession in 2009 and 2010 - only to crash again in 2012.
A three-week closing down sale will begin at once and the business will close by the end of October. The family owns the freehold of the site but a decision has not been made yet on what will happen to the building.
David said: "This was not planned. We did not want it to happen. We would like to thank all the customers who have been loyal to us over the years."
Those customers have included Eric Morecombe, Ernie Wise and Michael Parkinson. The shop expanded 10 years ago to include women's clothing and later a picture gallery.
The business goes back three generations.
Mr Jessey's father Leslie set up the ladies clothes shop Irene Goodwin in Peascod Street in 1947 with business partner Pompey Phillips. John Goodwin opened nearby 12 years later.
In recent years David handed over the management to his sons Dan, 36, and Alexander, 31.
The brothers are in early discussions about a new clothing business venture that they hope can also be based in Windsor. But they say it is still 'early days'.
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