After 43 years in business, the Peyton Corral steakhouse will serve its last customers on New Year's Eve.

Employees at the Mount Peyton Hotel restaurant were given notice on Wednesday that the end of an era had come. Westmont Hospitality Group, the hotel's owner, was cutting them.

For Bev Burke, an employee of 28 years, it was an unpleasant shock.

"It was like a kick in the stomach to me," she said. "We've served kids with their parents and they are coming here now with their kids. For this company to take this away from our community, it's sad."

The Peyton Corral steakhouse opened in the Mount Peyton Hotel in 1973. (Chris Ensing/CBC)

Employees were first told the restaurant would be closing immediately, but the decision was changed to honour reservations and events through the holiday season.

The Peyton Corral has been open since 1973, one of the longest serving establishments in Grand Falls-Windsor. The hotel also has a bar and dining hall, where some steakhouse staff will now be relocated.

Burke fears as many as 10 jobs will be lost when the restructuring is over. While she will move to a different area of the hotel, she feels for the people who do not have seniority.

"I'm thinking how can I be so emotional when these people are losing jobs? At least I'm going to have one."

The restaurant was a popular spot for anniversaries and birthdays, with many of the same customers returning year after year.

Calls to Westmont Hospitality Group were not immediately returned.