Collected Works, an independent bookstore on Wellington Street, closed its doors for good on Monday afternoon.

Earlier in December, the store's owners announced that they were hoping a buyer might come forward to assume the business's liabilities and save the store by buying it for $1.

Author Blaine Marchand said the community is losing its heart. (CBC)

It needed to happen by Christmas Eve, but no one came forward.

The store closed at 4 p.m.

"Well I think in a way, the community is losing its heart," said author Blaine Marchand at the store's closing sale Monday. "Do we need another restaurant? Do we need another baby store? No. I think we need the kind of mix that makes a community vibrant, and I feel the loss of Collected Works is the loss of a part of that vitality."

Catherine Prickett worked at the store for about five years. She said she'll miss working with he co-workers the most, because they feel like "a big family."

3rd local independent bookstore to close this year

Collected Works is the third independent bookstore to close in Ottawa this year alone. Mother Tongue Books on Bank Street and Nicholas Hoare in the ByWard Market both closed earlier this year.

The owner of Books on Beechwood had announced this year that the store was set to close in January, but a longtime customer stepped forward to buy it. That announcement was made last week.

Catherine Prickett had been working at the bookstore for about five years. She said she'll miss her co-workers the most. (CBC)

More than two years ago, Collected Works had the opportunity to take over more space that came available right next to it.

At the time, the original store felt too small to house all of its events, including talks with authors, said co-owner Christopher Smith.

It meant paying more rent, but Smith said they calculated that if they could boost sales by about 30 per cent, they'd make it.

"Unfortunately … sales just remained flat. So over two and a half years we were kind of like the frog in the pot of water. He doesn't notice that he's getting cooked," Smith told CBC News earlier this month.