Duncan Stutterheim, founder of ID&T (which is now owned by SFX Entertainment), has sold Studio 80 to the owners of Disco Dolly and Bloemenbar Nachtcafé.
In a statement on Facebook, the club said: "It is with great sadness that we must announce that Studio 80 will close its doors in January. This week, we received the news that our club has been sold to a new owner. Therefore Studio 80 as you know it will cease to exist. It's no secret that the news came as a sudden shock to us all, leaving our team behind devastated. Without a doubt, many of you will share the same feeling."
"The impromptu choice to sell Studio 80 was a personal one by Duncan Stutterheim, who set up the foundation as a platform for upcoming talent back in 2005. After having dealt with a difficult period earlier this year, mainly due to selling his company ID&T to the now rapidly dwindling SFX conglomerate, Stutterheim's passion for nightlife culture has been decreasing over the past few months - which led him to the difficult decision to sell the venue before the end of the year."
Read Studio 80's full statement about the sale on Facebook.