Fresco restaurant will close its Elgin Street doors Thursday

Fresco Bistro Italiano is closing its Elgin Street doors for the last time on Thursday night, the restaurant has announced.

In a notice posted on its Facebook page Monday night, the company's owners said service will end at both the restaurant and the second-floor cocktail lounge, called The Guest Room, at 10 p.m. on Jan. 5.

"It's been a pleasure serving this community and city of Ottawa and as much as it pains us to give up this amazing location and all the good times had within these walls ... the time has come," the post reads.

Jim Bickford, the co-owner of the restaurant, said a number of factors contributed to the decision to close including high rent and the increasing costs of running a restaurant.

Bickford said a Toronto franchise will be taking over the location.