Doug Crouch, co-owner of Discount City, said his father started the business, initially as an Army surplus store.
"It's been a great blessing to be here and to do this for 55 years," he said.
Crouch said he remembers running through the aisles inside the store when he was just a little boy. It has been in his family the entire time.
Many of the employees have worked at the store for more than 20 years.
"When we made the announcement to the employees last week, it was a difficult thing to do," he said. "With margins getting closer together and sales not increasing, it eventually catches up to you."
Bill and Marjorie Higginbotham said they've shopped at Discount City for years. "Any hard to find merchandise, we've always been able to find it here," said Bill.
"We're going to kind of miss this location," said Hal Williams, another loyal customer.
The store sold clothes, toys, furniture, and hardware, and everything in between. For some customers, the news was hard to take.
"It provided so much that the 'unmentionables' in the town do not provide," said Moureen Hughes. She worked at Discount City for 19 and a half years.
"They've been wonderful people, and it's been a wonderful store for the community, and it's going to be sadly missed," she said.
"When I opened the store in the morning, sometimes I'd think, nobody has to show up," said Crouch. "But they always have."
Crouch said he is appreciative of all of his customers' business and is sad to see it go.
The exact closing date has not been set, Crouch said.
They will stay open as long as there is enough merchandise in the store.