Party Favors, the Coolidge Corner bakery that has turned birthdays, weddings, and graduations into custom cakes for 35 years, will permanently close its doors at 1356 Beacon Street on Wednesday, July 15.

The reason: a lease expiration the owners can no longer afford.

John and Mary Lynn Pergantis, who bought the shop in 1992, told Brookline.News that their landlord cut rent in half during the COVID-19 pandemic but that property taxes, insurance, and building costs have since pushed the rate back toward levels the bakery cannot sustain. Walk-in foot traffic never fully recovered from the pandemic, and while custom cake orders remain strong, they aren't enough to cover the overhead of a large Beacon Street storefront.

"There's no walking traffic anymore," John Pergantis told Brookline.News. "The cake business is great, but we can't keep it going on just cakes without some other revenue coming in."

Since the couple announced the closure in a June 27 Facebook post, lines have stretched out the door. Some customers cried upon hearing the news. The shop is closed Saturdays, Sundays, and Mondays in its final days, with decor, plates, napkins, cards, and candy marked 50 percent off.

The Pergantises aren't ready to give up. They are exploring options to keep Party Favors alive after Wednesday: relocating to a smaller space, sharing a storefront with another business, or bringing on an investor or silent partner. Brookline resident Nick Clinton launched a GoFundMe campaign to help pay off debt, cover back rent, and fund a more affordable location. The campaign had raised $12,335 toward a $35,000 goal as of Friday, July 11.

John Pergantis, a lifelong Brookline resident who still lives on the Corey Hill street where he grew up, first worked at Party Favors as a 12-year-old stock boy for original founders Dorothy and Ben Rak. He went on to graduate from the Culinary Institute of America and work as a pastry chef in Boston hotels before returning to buy the bakery in 1992. He and Mary Lynn met there.

Employee Magnolia Mejia immigrated from Colombia 26 years ago and has held no other job in the United States. When asked by Brookline.News what she likes most about her work, she answered in one word: "Everything."

The closure follows Golden Temple, the 66-year-old Chinese restaurant in Washington Square, which permanently closed on Beacon Street in June. The two departures mark a difficult stretch for the corridor's longtime independent businesses.

The Pergantises' long-term plan, if they find a smaller space, is to rebuild the business and eventually sell it to new owners before retiring. No new tenant has been announced for 1356 Beacon Street. Residents who want to support the search can find the GoFundMe campaign under "Support John & Mary Lynn's Party Favors."