Ed Mirvish has announced that Old Ed's, the King Street West establishment and the last restaurant in his famous chain, will be closing on Sept. 9.
"It's been 40 years in the restaurant business. I get tired of washing dishes," Mr. Mirvish said with a laugh, as he sat near the restaurant's bar.
The building and property will be retained by the Mirvish family and then leased to another party. Mr. Mirvish added that there are about three or four parties interested and that he will be talking to prospective tenants in the next few weeks.
The new tenants will have to "fit into the King Street area," he said.
"It's been enjoyable, but collecting rent is much easier. It's quite likely that whoever rents it out will have restaurants on one of the two main floors here," Mr. Mirvish later added.
Mr. Mirvish, who will turn 86 this weekend, hinted that age may have played a factor in his decision.
"Once you reach 86, you go through transitions all the time," he said. "For example, I've been driving since I was 15, and now I don't drive any more."
Diners at the restaurant, located in the heart of the city's entertainment district, were surprised to hear of Mr. Mirvish's decision.
"I'm shocked. I've been coming here for years," said Penny Krolic. "There are a lot of restaurants where I live, but this is the best, with all the antiques. And you can't find roast beef like they have here."
The antiques are everywhere. They fill almost all of the empty spaces, and the stained glass surrounding the bar resembles images one would see in a church, making it the "only bar where you can drink and get blessed at the same time," Mr. Mirvish joked.
The walls are adorned with pictures of celebrities, including Tony Bennett and Celine Dion.
Mr. Mirvish said the antiques will all be sold.
"A couple of candelabras are gone already," he said.
At one time, Mr. Mirvish had five different restaurants open at the same time, comprising 10 dining rooms stretched over three stories in three different buildings on King Street. The first opened in 1963.
"[That one]was very popular. They were lined up in the streets," he said. "We only had roast beef, but I never ate it because I hate roast beef."
His company, Ed Mirvish Enterprises Limited, also owns the Royal Alex and newly built Princess of Wales theatres, transforming the area into one of the liveliest in the city.
Honest Ed's department store on Bloor Street is another reason many residents think so highly of Mr. Mirvish.
"David and Ed Mirvish care passionately about Toronto. They've demonstrated that in buckets," said Paul Bedford from the city's planning department.