Adelaide's Le Cornu furniture business is to close with the likely loss of about 70 jobs.
Fantastic Holdings Ltd says it will close the business over the next six months in response to difficult trading conditions.
It hopes to redeploy about 25 of its current staff of 95 at the suburban Keswick site.
Fantastic Holdings Group retail operations chief executive Debra Singh says the company's immediate priority is to assist staff impacted by the closure.
"All these employees are dedicated, hardworking people and we are committed to working professionally and sensitively with them over the close-down period," she said on Wednesday.
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"The Le Cornu business has been an icon in the Adelaide retail market for many decades, largely due to the committed, dedicated, passionate people in the business.
"Like us, they will be proud of the mark that Le Cornu has made in South Australia."
Fantastic Holdings also operates under its core Fantastic Furniture and Plush brands in various sites in South Australia and under the Le Cornu brand in Adelaide and Darwin.
Its Adelaide site, which is leased, has been for sale since late 2015 with potential buyers considering various redevelopment options.
Fantastic Holdings says it expects to open three new stores in South Australia under its core brands and will continue to operate the Le Cornu outlet in Darwin.
It also plans to rebrand its Ashley Furniture Homestore at Gepps Cross in Adelaide to Fantastic Furniture.
The company said it was unfortunate there would be redundancies in Adelaide but support systems were in place to help those employees impacted.
The first Le Cornu store was opened in Adelaide in 1861 when Phillip Joshua Le Cornu established a cabinetmaking business.
After operating in North Adelaide for many years, it moved to its current site in 1974.
