GREER, S.C. (WSPA)- The Spinning Jenny has announced that it is closing its doors.

The venue – which opened its doors in 2015 – announced on Facebook that its owners have enjoyed the last eight years of music, dance, art, community events, and sports but have now made the decision to close.

“I really enjoyed seeing people come in, enjoy themselves, enjoy the arts,” Co-owner Sarah Betancourt said. “It’s very important. It makes us human.”

Betancourt told 7NEWS there were several contributing factors that ultimately led to the closure of the venue, including the rising costs of operating the business. The insurance premium alone, she said, quadrupled in cost in the last year.

“Now it’s time for us to move on to other opportunities. You all have meant so much to us and we have made the dearest friends. Your support has been amazing. We hope that you will join us in this last month of events together so we can go out strong!” the venue’s owners said in the social media post.

According to the venue, the final show will be an October 6th performance of Rocktoberfest: Dark Side of the Moon.

Business leaders in the city, including Chamber of Commerce President and CEO David Merhib, said the closure is a big loss for Greer’s downtown.

“People come from all over to spend dollars in downtown Greer, so the impact has been felt at a high level,” Merhib said.

The property has been sold to developers and is expected to become something new.