The iconic Archambault store in the Latin Quarter, which Montrealers have seen for decades as they exit the Berri-UQAM metro, will close its doors on June 30.

Archambault Group said Friday in a statement that it announced the news "with regret" to employees.

The company says that the business outlook in the neighbourhood was deteriorating steadily and no longer allowed it to be profitable "despite significant investments made in recent years."

The group points out that construction sites have spread throughout the area, which it says has become, over time, a "laboratory for urban mix."

"We do not dispute the choices of the City of Montreal in terms of urban planning. However, we cannot ignore this new reality," said Floriane Claveau, director of communications for Archambault Group.

The union representing the 30 or so employees who will be out of work said it was dismayed by the news.

"Archambault is part of Montreal's history, and this will be a great loss for everyone. We are currently analyzing the conditions of the closure and we are discussing with the employer," said Dominic Béland, president of the Office and Professional Employees Union, Local 574.

Archambault Group has also indicated that the store's famous sign, which was acquired by Quebecor in 2017, will be able to remain in place despite the closure.

This report by The Canadian Press was first published in French on Jan. 27, 2023.