A popular restaurant in the heart of Salem is being sold to new management and will close after seven years of service.

The Derby Restaurant & Bar “will be moving on” and cease operations by Monday Dec. 1 as the new owners takes over, the establishment said in Facebook post Friday.

“After almost 7 years and enough memories to last a lifetime, it is time to step away. We want to send out a special thank you to all of those that have supported us throughout our journey and make sure we thank ALL of the stellar members of our team for all they have done to make The Derby a success,” the restaurant wrote.

“It goes without saying that over the years, we have worked with some truly remarkable people that we consider friends and family and will always cherish the relationships The Derby has injected into our lives,” the post continued. “Thank you for making the last 7 years so special!”

The Derby mentioned that it is helping current staff members find new employment as well.

While the restaurant originally opened in 2019, it was “forced to hunker down” the following year because of the COVID-19 Pandemic.

With the support of the local community, The Derby eventually rebounded and became a hot spot for Drag brunches, Kentucky Derby viewing parties, watching Sunday football and more. The restaurant has also donated more than $50,000 to the Salem Fire Fighter’s Relief Fund since opening in 2019, according to the Facebook post.

The restaurant said it has “a ton of great events” to thank the community before it shuts down for good. Patrons are encouraged to visit The Derby, located at 189 Washington St., Salem, before the restaurant closes.