02/22/2014 02:39 EST | Updated 04/24/2014 05:59 EDT

Toronto's Cookbook Store closing after 31 years

Food lovers and cookbook enthusiasts will be mourning the loss of a 31-year-old institution in Toronto next month, as The Cookbook Store closes for good.

“It’s with a heavy heart we announce the closing of The Cookbook Store,” the shop owners said in a release on their website.

The building that houses the store, which is at Yorkville Avenue near Yonge Street, has been sold to the developers of a 58-storey condo tower.

“This past year has thrown more challenges to us than ever before. Never-ending and on-going, year-long road and utilities construction, extreme weather, online competition, and the sale of the building for condominium development, have had a devastating impact on our sales.”

The owners had thought the shop might move instead of completely shut down, but Alison Fryer, manager of The Cookbook Store, said that option is “not proven feasible at this time.”

The Cookbook Store has hosted famous chefs, authors and community-cooking events over its more-than three decades.

The shop will be having a closing sale beginning Saturday, Feb. 22.