However, the company said if the shutdown at the plant goes ahead there may be no job losses as workers could be transferred to the larger plant at Craigavon.
Some 203 staff will be offered employment in Craigavon, while relocation opportunities could be possible for 25 administrative staff. A consultation period with workers looks likely to be held before a final decision is taken.
A spokesman for Moy Park said: "Our products might be some of the best on the market, but in today's market price drives the buying decision almost above all other factors." The firm blamed cheap imports and reduced demand for the closure.