A Banff institution has paid the price of challenging economic times. The town's only independent bookstore, the Banff Book Art and Den, shut its doors this weekend after 44-years in business.

Neil Wedin, says, "It will be difficult, but we have to move on."

Gabi Wedin, whose mother, Barbara Steiner, started the business in 1965, says a number of issues contributed to the closure, beginning with the U.S. parity for books. Then the economy took a dive and tourism decreased.

"It was completely economic. It just wasn't working anymore and we had to make the decision that it wasn't viable anymore."

There has also been mounting competition from online book sites, but Neil Wedin says the final blow came when a big box bookstore moved in down the street.

"It's very difficult to be an independent bookstore."

A petition was started to pressure Banff Town Council to help small businesses survive as bigger chains move in. The petition garnered 5-hundred signatures.

Stavros Carlos, Banff Deputy Mayor, says, "I think the town does a reasonable job trying to support a healthy mix of local independent store owners and big box store owners. We really support the consumer making the choice themselves."

Tourists and local customers came in on the final day to cash in on the closing-out sale, but more importantly, many customers, like Allyson Van Impe, came to say good-bye to a business they will miss.

"The idea that they carry different things than the big book chains, and just the nice rapport you have and you get to come in and say hello."

Despite the economic reasons behind the closure, the decision was still heart-wrenching for Gabi Wedin.

"Making the decision, we felt a little bit like were letting down a lot of the people in the community that supported us over the years."

Some of the unsold books will be returned to publishers, but the store will donate many of them to the Banff School and Library.