After almost 50 years in business, Olsen’s Scandinavian Foods on Northwest Market Street announced over the weekend they will close.

Though the final day is uncertain, owners said they will likely shutter in July. A sign announcing the store would close was posted in the front window on June 22.

Several other Market Street businesses have closed or announced they will close this year, including All the King's Flags, Best Regards, Bella's Best, Annabelle's Consignment and Antiques and Mandrakes Antiques.

Founded in 1960 by Einar Johnsen, Olsen's was called B.D. & D. and was located across the street from its current location at 2248 N.W. Market St. But three years later, the owners realized the store needed more room due to Ballard’s vast Scandinavian community.

In 1972, Johnsen decided to retire and move back to Norway selling the store to Reidar Olsen. Reidar kept the original named and continued to sell Scandinavian goods and later decided to retire in 1992, after 20 years.

Reidar passed it down to his son Erik Olsen, who decided to change the store’s name to Olsen’s and kept the store running for 25 years under the management of his father’s and himself.

In 1997, Erik sold the store to the Endresen sisters, Anita and Reidun from Sandeid, Norway who had been working for the Olsens for almost 20 years since 1978.

This story was updated June 16, 2009 to clarify information obtained by the Ballard News-Tribune.