Generations of families have walked through the gates in Rochester, New Hampshire, to celebrate the annual tradition that is the fair. But times have become tough, tough enough to end the time honored tradition 142 years after it started.

According to WMUR, the board of the Rochester Fair decided to pull the plug on the event because of financial constraints and debt that was close to $800,000. 2017 will be the first time since 1874 that the Rochester Fair will not be held.

Declining attendance for the past few years was the main contributor to the decision to end the fair. Stiffer completion coupled with increasing costs ultimately led the board to make the tough decision to end the long-standing fair.

So what will happen to the fairgrounds? That hasn't been decided yet. The board will convene once again to determine the fairgrounds fate as well.