The Bournemouth Echo has reported that as owner Alan Andrews has decided to retire, the shop will close at the end of April.
Streets has been passed through the family from its original founder, Charles Street, and has been run by Alan Andrews for 40 years.
Having built it into one of the largest traditional toyshops in the area, Andrews is now retiring at the age of 70. Unable to find a buyer for the business, he has taken the decision to close the business.
Andrews believes he has a buyer lined up for the premises. But he will have to lay-off his five part-time staff before the shop closes.
He commented: "I have told them and they know they will have lost their jobs. I’d been thinking about it from November or December time.
“They realise I can’t do it and there’s no-one else in the family that wants to carry it on. And these days, business is not easy, so it’s a question of closing it down. It’s a sad time, but needs must.”