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Murray Street, one of the ByWard Market’s most celebrated restaurants, is closing. But it will go out with a bang.

“Our last night will be New Year’s Eve,” says chef Steve Mitton.

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“We’re going to close with gangbusters,” says Murray Street’s part owner and manager Paddy Whelan.

The eight-year-old restaurant, which was ranked one of the best new restaurants in Canada by Air Canada’s enRoute magazine in 2009 and which was featured on the TV show You Gotta Eat Here!, is closing for several reasons, including a tough climate for ByWard restaurants, say the pair.

Whelan, who was part owner of the building at 110 Murray St., put the property up for sale earlier this year, with no intention of selling the restaurant, which has 45 seats inside and another 55 outside on one of Ottawa’s most attractive patios.

“But we got an offer for the building and the restaurant and it just seemed like the right fit to move on,” says Whelan, who now lives in Manotick and has a young family.