The Duchess of Kent Legion Hall is up for sale - and a crime committed 10 years ago is being blamed for its possible closure.

A for sale sign went up at the Royal Canadian Legion building on Hill Street in the SoHo neighbourhood on Monday.

Arthur Stenning is a Second World War veteran and knows the situation is bleak, "To see a legion, like this, that's meant so much to the community, falling down and down and down, and we don't know whether it's going to hit the ground or not. We are trying to save it everyday."

The branch was founded by veterans of the First World War, moving to the current location in 1969.

Brian Harris, zone commander with the Royal Canadian Legion says the Duchess of Kent has struggled with a financial crisis for a decade, ever since a highly publicized theft by an employee.

But plummeting membership may also have played a role.

Bob Marshall, president of the Duchess of Kent Legion, says, "Our membership has dropped from 1,500 when I joined the branch to just 251 -- at last count...in just 20 years"

With $300,000 in re-mortgaged debt, Marshall says a "desperate" moved had to made - to sell the building.

Harris explains "This had to be done, because, if you don't take steps, unfortunately, we are just going to walk to the doors, lock them and walk away, because there is no money and the debt so heavy, you can't crawl out."

Whatever happens, the men say the Duchess of Kent branch will survive in some form, even if the solution is renting back the building or moving to a much smaller location.