The company, which has been run by the same family for 130 years, has nine stores across south east London.
Their premises in the High Street in Bromley, will close earlier than the others, on 27 October.
Director Chris Kennedy, based at the company's factory in Peckham, said: "There is a large possibility the firm will close on 22 December.
"We are undergoing consultation with our staff, but it is very likely we will close. "Our staff come first, we have got people who have been working here for years."
Kennedy said increasing overheads and a decline in trade was the reason for the closure.
He added: "At the end of the day someone has to say it's time to stop. I am not blaming anybody."