One of the longest-running shops in Woolwich is set to close at the end of next month, following a dispute over its lease.
Budget Carpets and Beds in Powis Street has been a well known site in Woolwich since the 70s, when owner Alex Palmer bought the site.
The land was sold three years ago by Mr Palmer following substantial bids from Sainsbury’s. They then sold the land on last year to a Chinese consortium - who now refuse to renew the business's lease.
Mr Palmer called the closure "a great shame" and said that it could cost 16 people their jobs, including one carpet fitter who has worked there for several decades.
He described Budget Carpets and Beds as a "family business, where staff were encouraged to help the customers."
By refusing to renew the lease, the business will lose two warehouses. Reacting to this, Mr Palmer said "They’ve got their own plans, it’s a great shame but we can’t just go out and a buy new warehouse in the next month."
The warehouses are claimed to have been used during the First World War to store hay for the horses in the Royal Artillery and Mr Palmer says an archaeological friend described one of the warehouse walls as "very old and surprising to see."
Speaking on the businesses prospects for the future, Mr Palmer said: "We will keep in touch, we’ve still got a warehouse in Tunbridge Wells to work out of."
It is unclear what the warehouses will be used for when the lease runs out on May 31.