TORONTO -- Toronto’s Lower Ossington Theatre has announced it’s permanently closing its doors amid the COVID-19 pandemic.

The live theatre company released the statement on its website, saying that it tried to hold on as long as possible, but the rent was no longer sustainable.

“While it is likely no surprise by now, considering that countless other small venues have already disappeared, not to mention large national businesses, it is nonetheless heartbreaking,” the statement said.

“As a small organization that was always punching above its weight, 'The LOT' was a hub for hundreds of up-and-coming actors, and presented thousands of live performances over the last decade.”

The downtown company located at 100 Ossington Avenue promised to transform its website into an “archive of memories” of the shows held at the theatre.

Performing arts facilities are closed to spectators in the grey zone of the province’s COVID-19 framework, including in Toronto and Peel Region.