On the heels of rumors and speculation yesterday surrounding Smulekoff's, the company has confirmed that they will be closing at the end of the year. The only reason given in a press statement released today was that construction of a flood wall is slated to begin.

Current President of Smulekoff's, and great granddaughter of founder Henry Smulekoff, Ann Lipsky spoke on behalf of the company, "We treasure the role we have been able to play in the growth of this community, through challenges and triumphs from 1889 when we began as a small store on the island to our current three acre store."

Smulekoff's has been in their current location since 1942. The building sustained major damage in 2008, which forced them to close for a month. They were the first downtown business to reopen following the flood of 2008.

This closing will not affect current business. "All of our current customers can rest assured that their orders are in process and will be fulfilled in the normal manner," Lipsky said.

The store will be out of their current location by December 31, 2014. Smulekoff's has 50 employees that will be impacted by the store's closing.