FORT WAYNE, Ind. (WOWO) — Century Music Hall is closing its doors after six years, with ownership citing rising costs, financial pressures and public safety concerns as reasons for shutting down.

The venue, formerly known as Piere’s Entertainment Center on St. Joe Road, announced the closure in a statement shared on social media Monday.

Owners said increasing operating expenses and financial obligations made it difficult to continue running the large concert venue.

“The reality is that operating a venue of this size became increasingly difficult,” the statement said. “Rising costs, financial obligations and the challenges of running the business made it the right time to step away.”

Ownership also addressed rumors surrounding the business, saying Century Music Hall did not lose its liquor license. Instead, the license was voluntarily placed into escrow.

The statement also pointed to growing violence in the community as another challenge, saying it became more difficult to provide the type of environment the venue wanted for artists, staff and concertgoers. Click on the below photo to see the full statement.

Century Music Hall opened in 2020 after replacing the longtime Piere’s Entertainment Center. During its six-year run, the venue hosted national touring acts, provided performance opportunities for local musicians and supported first-time concert promoters.

“It’s disappointing that a city with so much potential doesn’t always support the venues and businesses willing to invest in it,” the statement said. “Every time an independent venue closes, the local music community loses opportunities along with it.”

Despite the closure, ownership said Stan’s Room and Bobby McGee’s will remain open and continue operating for the time being.