The city's only gallery dedicated solely to the showing and selling of fine art will be closing at the end of June.
Some 20 shows after its opening in May 2012, Jacksson Contemporary Art has proven to not be financially viable.
The gallery was operating in the red.
Co-owner David Kadlec has been renting the space from a company that he partially owns. The agreement that he struck with partners was that if he did not purchase the Jacksson space, it would be listed for sale.
For more on this story, see Tuesday's Republic.