The Leamington Assembly has been closed down effective immediately.
Earlier this afternoon it was announced that the Paul Young show that was due to take place tomorrow (Wednesday) had been cancelled.
There were rumours circulating in social media that the venue was closing but when The Courier contacted the MJR Group they only said that one show had been cancelled.
Read more: Show at Leamington Assembly cancelled
Now it has been announced that the venue has closed with immediate effect. This closure will also affect the Zephyr Lounge.
In a statement from the MJR Group it says: "It is with deep regret that The MJR Group has made the decision to close The Assembly in Leamington Spa with immediate effect.
"The last three years have been a memorable experience and we have brought some of the most exciting and legendary artists, bands and DJs to the beautiful Grade 2 listed building. While in Leamington Spa, we became a welcome part of the town, developing strong relationships with local businesses, the authorities and the general public. We want to thank everyone that came to The Assembly to enjoy our shows, club nights, entertainment and concerts and everyone that supported us in the business community.
"Even after a record-breaking quarter one and quarter two this year, the current level of rent and rates on the property, alongside the repairs and upkeep that are needed to maintain a Grade 2 listed building, unfortunately make the business unviable and unsustainable. These issue are impacting the venue community at large and we have felt these challenges the most in Leamington Spa.
"We will now have renewed focus on our high performing venues, Tramshed and The Globe in Cardiff and The Mill and Digbeth Arena in Birmingham. We also have new multi-use event spaces projects in development with projected launches this year and 2020.
"The Assembly was a truly unique and historic building, which we will miss greatly. We look forward to bringing our next concepts to the industry and general public over the coming months.
"All upcoming shows in The Assembly diary will either be rehoused or cancelled, and full refunds processed. For further information please email email@example.com"
A spokesperson from Warwick District Council said: "We are sorry to hear about the closure of The Assembly, which has been the focal point of the live music scene in Leamington for a number of years.
"The setting of business rates is something that is unfortunately out of our control; as the local authority we are responsible for collecting the rates that are set by central government.
"Our thoughts are with the staff at this time."
Read more: Your memories of Leamington's Assembly