An iconic Brisbane fishing business that was planning to shut down after 97 years has delayed its closing date for a second time to meet customer demand.

"The orders keep growing still, which is certainly a wonderful response to our brand and customer loyalty," Bruce Alvey, owner of Alvey Reels, told ABC Brisbane's Steve Austin.

It was a shock to many when the family-run company, known for its Australian-made side-cast fishing reels, announced earlier in July that they would be closing.

But thanks to an influx of orders from loyal customers, the business said in August it would need to remain open for a little while longer.

Now, Alvey Reels has again extended their closing date until next year and is in discussions with an investor who may potentially save the company.

Charles Alvey began producing fishing reels in 1920. ( Supplied: John Beitzel )

"We've put the date out now to the end of January, which will only cover the orders we have in hand now, which still continue to grow," Mr Alvey said.

Mr Alvey's great-grandfather, Charles Alvey, began producing fishing reels in 1920 and the current factory in Ipswich, west of Brisbane, has been operating since 1978.

"I think all you can say is that we've been here so long that people thought it was part of the furniture and would always be here," Mr Alvey said.

"The orders dropped off to the stage where we thought, 'We can't keep going like that', and everyone said, 'Hey, you can't go. We love you and we don't want to lose your products.'"

'Everyone's flat strap'

The business employed six extra staff to cope with the demand.

"It's full on — everyone's flat strap," Mr Alvey said.

He said the company had started looking into whether the jump in orders meant it would be possible to remain open, and were in discussions with one person with a genuine interest.

Mr Alvey said power bills and council rates had been a major contributor to the initial decision to close the business.

"We've had our Ipswich City Council rates more than double in the past few years," he said.

"If you've got the right number of sales, the business will survive — but they're all costs that are draining and making doing business hard in Australia."