The Muddy Rudder in Yarmouth is closing “indefinitely” after nearly 50 years in business. Sande Updegraph/For The Forecaster

The owner of the landmark Muddy Rudder restaurant in Yarmouth announced Thursday on social media that it would be closing “indefinitely” after almost 50 years in business.

“For me The Rudder was not just a place to serve food and drink, it was a place of human connection,” the brief post read, in part. “Our guests and crew alike shared many memories that I will never forget. The biggest thank you for the last 13 years. It has truly changed my life. You made a man’s dream come true and for that I will be forever grateful.”

Matt Witham and Jeff Miller bought the popular seafood restaurant in 2011. Witham bought Miller out about a decade ago, said Earle Wason, Witham’s father-in-law and the real estate broker for the sale. The restaurant is listed at $1.4 million.

Nestled next to the Cousins River on Route 1 with Interstate 295 nearby, the restaurant’s signage has been a familiar sight for the millions of drivers who have passed by over the past five decades.

Wason said the closure was prompted by financial hardships during the COVID-19 pandemic and a shortage of staff. He said the Muddy Rudder was operating with about 20 waiters and line cooks, while the business needed about 50 to stay afloat.

“The economy is not great, and the restaurants are getting killed on the operations side,” he said.

All of the employees lost their jobs, Wason said.

The local dining institution, which first launched in 1976, offers indoor and outdoor seating for 250 people, according to the listing. The property includes just over an acre of land with town sewer and water.

Wason also brokered the sale when Witham and Miller bought the restaurant in 2011. At the time, the Wason Associates website said that Miller managed the kitchen operations and Witham handled the front of the house.

Wason said he is currently in negotiations with potential buyers and thinks the restaurant will sell in the next week or so.

Staff Writer Katie Langley contributed to this report.