HUNTSVILLE, Alabama - Upscale restaurant 801 Franklin in the heart of the Medical District has closed, citing economic conditions.

A notice was posted on the restaurant's locked front door this afternoon that said the restaurant, located at Franklin Street and Saint Clair Avenue, had closed effective today. It was signed by owner Monty Williams and the 801 team.

"We deeply regret taking this action, but given the events of the last several months, our current economic situation is not sustainable," the notice said.

The posting also said that the restaurant would contact anyone who had a special event scheduled at the restaurant to help them find another location.

"You cannot know how much you, our guests, have enriched our lives over the last 11 years," the notice said. "We truly appreciate it."

Rumors of the restaurant's closing surfaced last week. Williams said last week that the restaurant was going through a difficult period, but he was trying to work something out. Asked if the restaurant was delinquent paying taxes to the city or state, Williams said that he was "in negotiations."

A woman who read the notice on the door this afternoon said she hated to see the restaurant close. "It's the favorite bar of a lot of people in town," said the woman, who declined to give her name.