Peggy's nightclub on Douglas promenade will close this autumn.
The announcement was made on social media last night.
Owners say they want to leave in their "prime with heads held high".
The popular Douglas venue, which started as a pop-up in 2018, will close on 2 October.
It is the second bar in the Isle of Man to close this month.
On 9 August Bar Logo in Ramsey announced it was shutting with immediate effect after being hard-hit by the pandemic.
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