Fear that Homebase in Holyhead, Angelsey, could become a pound shop has seen more than 1,200 people sign a petition against its closure.
A period of consultation has begun concerning the closure of the DIY store, where the lease is due to expire imminently.
Danny O'Neill, who started the petition, expressed his concern about the store becoming home to a discount shop to the Daily Post.
He added: "It's a valuable shop. There are already enough pound shops and charity shops in Holyhead, and we don't need any more.
"The town needs Homebase and other big companies that can work alongside existing retailers."
A spokesman for the company said: "Colleagues at the store have been informed and we will be working with them to support them as much as possible. A decision will be made over the next few weeks, and if the store is closed, discussions will be held with colleagues to identify alternative employment opportunities within Home Retail Group.
"Homebase continues to invest in its store refurbishment programme, with further refurbishments planned in the coming months. Due to commercial sensitivities, we are unable to comment further at this time."
The company announced in November 2012 that leases on 65 stores were due to expire during the next five years and it would be closing 40 of them.