Decoratifs, a Lexington home décor company known for its Christmas merchandise, is closing later this month after more than 25 years in business.

"Since the economic downturn, it's been kind of a slow, gradual decline in everything," said John Morris, one of the owners of the shop on Kentucky Avenue. "We still did OK during the holidays.

"Christmas was fine. It was just the rest of the year, and it was not enough to sustain you."

He and fellow owner Wes Gharrett had worked on reinventing the firm in recent years by accepting consignment antiques.

"It was going OK but only OK," Morris said.

Morris and Gharrett started the company in 1987 with the late Pat Witt Davis. All three had worked in the decor industry and decided to open a store together.

Morris and Gharrett anticipate closing the store the week of Aug. 20 and have been offering discounts on remaining merchandise.

Both intend to continue working in the industry after the store's closing. Morris anticipates he will still perform custom work, and Gharrett said he plans to work more often with a wholesale vendor whom he assists with store displays.

Gharrett said they'll miss the customers.

"This has been the hardest part of all of it," he said. "We have some really great customers, and we've seen their families grow and their children to marry and have children.

"We've lived through life and death with our customers. You grow very close to them."

Scott Sloan: (859) 231-1447. Twitter: @HeraldLeaderBiz