Viracocha, the basement venue on Valencia Street that's hosted live music for the past five and a half years, is set to close.
The Mission District spot has been plagued with ongoing financial trouble -- a year and a half ago, according to the SF Weekly, it faced $40,000 in debt while being charged $10,000 in monthly rent.
While the rumor mill has churned about the beloved spot for months, owner and operator Jonathan Siegel has been intentionally quiet about the closure. In mid-June, KQED contacted Siegel, who did not deny the venue's impending closure but declined official comment.
Viracocha joins a list of San Francisco music venues that have shuttered in recent years, including Kimo's, The Addition, the Red Devil Lounge, and soon the Elbo Room, which is scheduled to close later this year. Nearby development has also threatened the operations of the Bottom of the Hill and Slim's, resulting in legislation, passed in May, to protect nightclubs from the friction that historically comes with new condos and their residents.