HERVEY Bay Fisheries has shutdown after operating under different owners for more than 30 years, citing losses and the increasing difficulty in making a living in the seafood industry.
About 30-35 people have lost their jobs as a result of the closure, Hervey Bay Fisheries owner Simon Whittingham said.
"We've just unfortunately had to let them go," he said.
Mr Whittingham said staff were informed of the closure this week and suppliers and customers had been all notified by letter.
He said Australian seafood was becoming an industry that was difficult to make a living out of.
"The viability of the business is no longer there," he said.
Mr Whittingham also owns the Gladstone Fish Market and said negative pressure caused by the Gladstone Port development had impacted the business's Hervey Bay operation.
"That had a huge impact on our business," he said.
The closure will affect Hervey Bay's commercial fishing businesses, with one less place to stock locally-caught seafood.
Mr Whittingham said 80% of the stock sold through the store had been sought locally.
A two-day sale will be held on Tuesday and Wednesday at the premises on Barron St in Urangan to clear the remaining seafood in stock.
The building and land where Hervey Bay Fisheries operated will now be auctioned off through Knight Frank Fraser Coast.
Mr Whittingham said he hoped the business name might also attract buyers interested in making the business viable.