BINGHAMTON, N.Y. -- Just last month, the shelves of Wagner's Bakery were stocked with freshly-made cakes, cookies and cupcakes. They are now barren.

"It's hard even to be in here right now. I mean I didn't want this to happen," said Jim Wagner.

After spanning three generations, Wagner's Bakery is closing permanently. With skyrocketing gas and flour prices, a rise in the number of chain groceries and high cost of operating a business in the city, the Wagners say odds were stacked too high against them.

"They raised the water 40 percent. We use water just to run the steam in our ovens, let alone all the wash we had to do. And the taxes are unbelievable and they're going to go up again," said Lori Wagner.

The Wagner's plight is similar to those facing small businesses across the country.

"Big business will get taxes off. Little business, they don't care about. And that's what made the country," said Jim Wagner.

"What they've gone through as far as cost of doing business here and yet having the desires to succeed and one combating the other, is exactly why we need to have some sort of reform," said Catherine Glover, the Greater Binghamton Chamber of Commerce President.

Even if that reform does come, it will be too late for the Wagners. It's not just the shop that will be shutting down. The Wagners live in and own three neighboring properties, all of which have been put up for sale. And if that moving truck is any indication, they'll soon be leaving Broome County altogether.

"It's too hard to live next to something that has been around for 35 years and still see the same customers pull up and just look across the street and see that it's done, it's over," said Lori Wagner.

"I don't even think up a bow knife again really. I mean I'm really depressed about it," said Jim Wagner.

The local favorite that stood for more than three decades will soon be wiped away. In about two weeks, Wagner's will auction off most of their equipment.