The Key Club along the Sunset Strip in Los Angeles has reportedly closed its doors on Nov. 29. But the venue’s president Keith Pressman says that the venue could reopen in a couple of months.

"As far as everyone is concerned we're dead and buried, but this is just a temporary thing," Pressman told Los Angeles Times music blog Pop & Hiss. He added that the club has closed to make way for a new partner and renovations.

Attempts to reach the Key Club’s management for further details were unsuccessful at deadline. The venue's Web site offered no information about the closure, but no events were listed on its calendar.

Other club concert promoters in Los Angeles told Pop & Hiss that business over the past year in the city has suffered significantly as a result of the challenged economy.

"Show attendance, I would say, is almost about cut in half as of right now, compared to two years ago," said Jordan Goldstein, who runs local metal promoter Church of the 8th Day with partner Daniel Dismal. "These last few months, we have really been seeing it. People just don't have the money."

The Key Club isn’t the only Los Angeles venue to recently close its doors. In October, the Knitting Factory in Hollywood shuttered. Knitting Factory CEO Morgan Margolis has previously stated that the Knitting Factory is looking to reopen the club in another area of Los Angeles. But that process could take up to one year.