Millers Flat's only shop, Faigan's Store, will shut its doors on Sunday next week after operating in different forms for more than 100 years.
The catalyst was Foodstuffs pulling out its Four Square, which has been in the building since the late 1950s.
As well as groceries, Faigan's provides postal supplies and private post boxes, veterinary products and farming supplies.
The building is owned by a community trust, which took over the store 29 years ago.
Trust chairman Eoin Garden said he would "absolutely'' want the store to be saved in some form.
"Faigan's is an integral part of the community and an icon for the district.''
The trust was "in discussions'' about what would happen to the other services, he said.
It was well used by the community, he said.
"The church and the hall are focal points of the town at certain times, but Faigan's is open every day. People might start shipping out.''
Foodstuffs' required turnover for the shop was not being met five years ago, but at the time it "made a concession'' to keep it going regardless, he said.
At that time the trust set up a separate business to run the store for "purely structural reasons''.
The store had about six part-time staff, he said.
A community meeting will be held at the Millers Flat Hall at 7.30pm on Thursday to outline the reasons for the closure and discuss options for the store's future.
Central Otago District councillor Stephen Jeffery, who lives near Roxburgh, said the grocery chain closing its business was "disgraceful''.
"I'm really disappointed with the commitment on their part.
"The [Four Square] market themselves as the community store, but then they pull out of what is the lifeblood of a little town.''
He understood the business needed to make money, but it could not be sure "how things would look in the future''.
Grace Knight, who has lived at Millers Flat for 62 years, said the closure was "very sad''.
"My hope is that someone will step up and take it over, like in Naseby.''
The shop was very sentimental to her, she said.
"Ever since I've been here we've only had one shop.''
It was where she picked up her mail.
About 29 years ago, the community raised $26,000 to take over operation of the store.
Foodstuffs head of external relations Antoinette Laird confirmed the closure but said it was not the company's place to comment further.
