BALTIMORE (WJZ) — Barnes & Noble will close its iconic Inner Harbor location in Baltimore at the end of the week, the bookstore chain announced Tuesday.

“We have been honored to serve customers from The Power Plant bookstore since it opened in 1998 and appreciate their loyalty and support. We also thank the wonderful booksellers who worked at this store and will seek to transfer as many as is possible to one of our other Baltimore-area stores,” the company said in a statement.

They said while it has been a privilege to run it as “one of the most distinctive bookstores of the United States,” those very attributes made it “extraordinarily expensive” to run and maintain.

Because of this, they are closing the location to focus resources on improving other bookstores in the area and around the country, as well as invest in new stores — one of which is now in Rockville, Maryland.

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CBS Baltimore Staff