Toronto bookseller BookCity will close its doors at its Annex location, ending a 37-year run in the neighbourhood.

Known for its iconic yellow awning, the 501 Bloor Street West location was a flagship store for the family-owned mini-chain, opened in 1976.

"Our Annex location is closing this spring. Stop by soon for amazing deals," wrote BookCity on its Twitter account.

Book City founder Frans Donker later told CBC Toronto the decision to close the location was not easy.

"It was an extremly hard decision to make and it took months and months of soul searching," Donker said.

In total, 14 employees will lose their jobs.

Donker said the lease in the popular Annex neighbourhood climbed too high, along with stiff competition from online retailers.

BookCity's other three other locations, including at Yonge Street and St. Clair Avenue, on Danforth Avenue and on Queen Street East, will continue to be open for business.

In 2012, a BookCity location in the High Park neighbourhood was also shut down.