Directors of the Island's Family Library say the facility has reached the end of the road.
In a statement, they say its services, including the building on Westmoreland Road and mobile library, will end on Friday, July 18.
Earlier this year, they revealed they needed £100,000 a year to keep the library open - sparking a desperate fundraising effort by those eager to save it.
Its closure comes despite a Tynwald decision to work with the organisation and report possible options in October.
Stay off damaged slipway in Laxey, says local authority
MHK sues attorney general and returning officer over election votes
Islanders reminded to keep challenging domestic abuse beyond October
Peel fireworks kicks off the Island’s bonfire season this Friday
Yellow weather warning for coastal overtopping remains in force today
Nominations open for 10 local authority by-elections
MHK wants answers on support for home-schooled children
Weather warning for tonight and tomorrow