MONTREAL -- The owner of the recently closed Thursday's bar says the business was struggling, in part because of a lack of interest among young people in the establishment.

"Young people don't go out as much as they once did," Chris-Ann Nakis told CTV News.

The day after staff worked the New Year's Eve party at one of the established joints on Crescent St. in Montreal, Thursday's closed its doors, laying off about 100 workers with no notice.

"First day of 2020, our entire team awakens to this completely unexpected news to inaugurate the year," wrote bartender Chloe Ratte on Facebook in an open letter to her ex-employer.

"A few words written dryly to announce the end of an era; the closure of famous Thursday's Montreal on Crescent Street," she wrote.

Thursday's has been an established part of the popular downtown street for 47 years, and according to Ratte, the final closure of the spot was completely unexpected.

Thursday's didn't evolve with the times according to Steve Siozios of the Crescent St. merchant's association, who said many businesses on the street have been doing well, but they're mostly small bars with more personalized service.

"It's just a bit of a changeover, you know? A bit of a change from old guard to new, and you've been seeing it over the last couple of years. It's just that it took an iconic place. You know when hard rock [café] closed a few years ago, that was a similar situation," he said.

Thursday's opened in 1973 before closing in 2012 for renovations and reopening in 2014 by the original owner's son.

Ratte goes into detail in her post about how the establishment's owner Chris-Ann Nakis (who took ownership in 2018 from the Ragueneau family) was mostly absent and that she intends to take the ownership to Quebec's labour board.

The Ragueneau family continues to own the building and said there are no plans to reopen Thursday's.

"I took care of that building for 45 years, but now I have some health issues, I'm in a wheelchair and I don't think I can run a restaurant anymore," said Bernard Rageuneau. "The potential is there to make a condo building, but I don't know what people have in mind. It's up for sale."

Rageuneau said the damage is done to the Thursday's brand name, and the restaurant is not likely to return.

"They killed the trademark, Thursday's name, and I don't think we can revitalize this. It's too late. The name, Thursday's, you can't revive this name. The damage is done," said Rageuneau.

Doorman Peter David worked at Thursday's and has worked in the bar and restaurant industry for 33 years. He disagrees with the negative opinion of Naikis, who, he said tried to make the bistro a success.

"She meant no harm. She only meant good," David told CTV News. "I stand behind her 100 per cent."

David said the way the closure was handled via text was unfortunate.

Nakis' family owns several popular restaurant chains including Schwartz's deli on St. Laurent Blvd, Baton Rouge and Sir Winston Churchill pub.

Some of the establishment's neighbours, including Roger Costa, manager of nearby Weinstein and Gavino's restaurant, are sad to see it go.

"Thursdays is part of the folklore of the street, he said. "The downtown, and to some extent much of the city."  

With files from Rob Lurie of CTV Montreal.