The Bay in Moncton will remain open

New Brunswick's only location of The Bay will remain open,a spokesperson from the Hudson's BayCo. confirmed in a statement Friday.

The company announced Thursday thatthe Halifax location of the iconic department store would close in April.

The Hudson's Bay Co. is the oldest incorporated joint-stock merchandising company in Canada and the second oldest in North America. The company was incorporated by a royal charter by King Charles II in 1670 as the only company allowed to trade in the Hudson Bay drainage basin.

When the fur industry took a downturn in the late 19th century, the company turned into a merchant business selling goods to settlers in Western Canada.

Many peopleagree thatThe Bay is an institution. But they also admit the aging department store could benefit from a makeover.

This week it was announced that all of the restaurants in The Bay locations across Canada will get a revamp.

One of the partners involved in the renovation is a company that caters to fine dining.

But regular customers in Moncton are wary about what that'll mean for the family diner atmosphere. The department store has received many complaints like those from worried customers and releasedthis statement:

"Right now, we are very much in the planning process for every one of our 24 restaurant locations across Canada, including the one located in The Bay in Moncton. The next step in our plan is to look at each individual restaurant and determine the needs of the community it serves."

The spokesperson also said its main focus is on getting the first new restaurant up and running at the downtown Toronto store.

In Moncton, new management will take over the restaurant in October. All of the existing employees will remain, butthe details about the changes and when they'll happen are still up in the air.