Herrell's will close Harvard Square ice cream shop

(File photo of a Herrell's ice cream store: David L. Ryan/Globe Staff)

By Jenn Abelson, Globe Staff

After more than 20 years, Herrell's ice cream shop in Harvard Square is shutting its doors, just months after another location closed down in Allston.

Jefffrey Stanett, owner of the Harvard Square shop, said that the business had been losing money for years and that he could no longer afford to subsidize the store in the face of higher rents, increased franchise fees, and growing competition from rivals like JP Licks.

"It's unrealistic to keep going," said Stanett, who is planning to close up shop in the coming weeks and turn the space into a moderately price pub called First Printer Restaurant Bar & Grill.

The company continues to operate stores in some other locations.