Longstanding menswear retailer Stollerys will close its doors in the new year after a run of over a century at the southwest corner of Yonge and Bloor streets. Speculation that the store was in trouble has been tossed around for a while now, reaching a fever pitch a couple years ago when reports surfaced that Apple was planning to open a flagship store in the space. You can cue up the rumour mill once again now that the store has confirmed that it's set to close.

According to a report in the Globe, a developer has purchased the building but not further details are known at this time. The announcement of the closure comes on the heels of the unveiling of Holt Renfrew's sprawling new men's store in the former Roots space at Bloor and Bellair. Stollerys, for all its old school charm, just isn't in the same league as this new brand of luxury shop. The shop will be around for a few months yet should you want to soak up some history or hunt for a deal on a new suit.

Photo by Chris Barker on Flickr.