I know this is OT, but we have had a couple of very difficult clients that loved our work, but were a constant headache to keep functional.
After a very difficult contract phase , we were asked to bid a contract mod; we didn't want to work with them any longer, but even after we kicked the price up 50%, they still took the mod. After that, we kept upping the price of each following mod further. Eventually they took a lower bidder, and we all (including our insurer) slept easier.
Bootom line - I'd agree with Bert, sometimes it's easier to part ways without having to explain why.