"I don't really want it to change. As a matter of fact, if someone bought and would do something different, I don't think I would sell it," Pearson told the CBC's Jaimie Kehler.
Pearson's family bought the business in February of 1967 and it's remained in their possession ever since.
He says the real charm of the business has been its ability to stay the same as it was when he first started working there.
"To tell you the truth it hasn't really changed all that much. It's been the same clientele. Kids are coming in now from three generations."
"Most customers that I know don't even have to say anything, I just know what they're going to order. It's kind of neat."
Looking for its sixth owner
Pearson admits that he has not yet started telling his customers that he's planning on leaving the business. He says the reason for leaving is to have a little more time to himself.
"I've been here for 48 years and it's probably time."
The historic restaurant has had a total of five owners in the past and Pearson says it's time to find its sixth; with the condition being they keep the six-decade tradition alive.
"I hope a family buys it and continues using it as the same place. I'd hate to see it [become] something else."
To hear more, click the audio labelled: 69-year-old fish and chips restaurant in threat of closing down.