01/20/2015 06:50 EST | Updated 03/22/2015 05:59 EDT

Fabricland to move into Honest Ed’s building

Fabric retailer Fabricland will move into the iconic Honest Ed’s building at Bloor and Bathurst streets next month, Honest Ed’s announced on Tuesday.

The discount department store in Toronto’s Annex neighbourhood went up for sale in 2013, along with its surrounding properties. It was later purchased by a Vancouver-based developer.

The store is set to close in December 2016.

Founded by Edwin “Honest Ed” Mirvish in 1948, the store is famous for its large marquee dotted with thousands of lights, heavy discounts and pun-heavy signs.

Fabricland, scheduled to open on Feb. 14, will occupy between 16,000 and 18,000 square feet of the Honest Ed’s building. 

The building is currently occupied mostly by Honest Ed’s, as well as furniture and appliance retailer Lastman’s Bad Boy Superstore, which opened last November.