The Borough closing in downtown Raleigh

Owner Liz Masnik made the announcement via social media Tuesday.

"Recently I've spent a lot of time thinking about my future. It was not an easy, quick or lighthearted decision for me to make, but I've decided to sell The Borough" Masnik wrote on Facebook.

The restaurant and bar, located at 317 W. Morgan St., will close for the last time on Jan. 31.

"Come Feb. 1, Hadley's will take over the space where The Borough is now. There will be a few weeks of changes and construction, but as soon as those doors open again, the new owners want to meet you and welcome you. I'm excited for them and I wish for them many, many years of prosperity and success," Masnik wrote.