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In this week's Chamber of Commerce newsletter, Chamber chief executive Anna Mickell said DowntownQT's board will vote to wind up the organisation at the end of June.
It follows the departure of the group's manager, Steve Wilde. DowntownQT was formed in 2015, with Mr Wilde at the helm.
It was set up by the Chamber of Commerce, but was a separate entity with its own board.
In the newsletter, Ms Mickell, who is also a DowntownQT board member, acknowledged the work done by the organisation over the past four years in developing a town centre commercial strategy, "which was largely adopted in the development of the [council] downtown masterplan".