Da Nello in the Pollet has been in business for 47 years but the owners are now retiring.
Da Nello first opened its doors in 1978 by restaurateur Nello Ciotti.
He was joined by Head Chef Tim Vidamour in 1979, with Manager Manuel Teixeira joining in 1995.
Since 2008, Tim & Manuel, together with their families, have owned and run the Italian restaurant.
They took to social media yesterday (9 December) to announce they'll close the doors on 23 December.
Tim says it was a difficult but necessary decision, prompted by a combination of health issues, getting older and the cost of living.
"It was a hard decision, I've spent my life here, and met my wife here when she started as a waitress.
"Customers have become friends, and we have had a lot of comments on social media and calls.
"I had hoped I would carry it on a little longer, but I think it is time."
It is unknown at this early stage if a buyer has been found.
Police share update on suspected murder in Alderney
Suspected murder in Alderney
Blank canvas for enhanced Alderney ferry services
Annual Navy commemoration service in Guernsey
Information session ahead of Guernsey parish elections
Guernsey team conquer Kilimanjaro in memory of Rose Haysom
Work on broken sewer off Guernsey's east coast set to begin
Ministers meet to discuss Channel Islands connectivity
