The Irvine family - Toni, Ken, their son Todd and daughter-in-law Susie - have owned the business for 18 years.

They also own neighbouring florist Bunches @ Belconnen. Both businesses will shut their doors on August 15.

Calling the lease termination "absolutely devastating", co-owner Toni Irvine said they had been pushed out by the landlord.

"Since they took over the markets our whole life has been uncertain," she said.

The family believe Elanor Investment Group is trying to push out tenants before it re-develops the building.

"It's more than half empty now, the markets. So it's just been a sad place for the last 18 months because people just keep leaving," Ms Irvine said.

"Our opinion is ... they seem to be picking on the people that have leases. There's a lot of people there who are only on a month-to-month lease. And we think at this stage, there's probably only five other shops that actually have a lease. And by the looks of things, they're just going [one by one] to try and terminate their leases."

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Elanor Investment group said it had not terminated any leases.

"No leases with [Belconnen Fresh Food Market] traders have been terminated by Elanor, with each BFFM trader making their own decisions," a spokesperson said.

"The majority of the current BFFM traders are looking forward to their future involvement in the new [market]."

Ms Irvine said she would miss the Belconnen community, and hoped customers would visit the remaining store in Fyshwick.

"It was absolutely devastating to the whole family and to all our staff as well. We had a staff meeting last Tuesday to tell all staff and there were tears all around," she said.

"We envisaged ourselves dying there.

"We've been such a huge part of the Belconnen community we've supported ... [we've] supported the markets, supported schools, supporters, any charity that came along. So to be part of a community for that long is is absolutely devastating to us."

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