20-year-old live music venue Amnesia in Mission to close

The Mission's long-running live music venue and craft beer bar Amnesia is closing "in its current incarnation." The Mission's long-running live music venue and craft beer bar Amnesia is closing "in its current incarnation." Photo: Elle N. Via Yelp Photo: Elle N. Via Yelp Image 1 of / 45 Caption Close 20-year-old live music venue Amnesia in Mission to close 1 / 45 Back to Gallery

Amnesia, the nearly 20-year-old live music venue and craft beer bar on San Francisco's Valencia Street, is coming to an end "in its current incarnation," the business announced on Friday.

"It’s time now to write the next chapter of 853 Valencia," the Mission District business wrote on Twitter. "Our plan is to retain the entertainment license for the space while we work through where music fits into the new model. With full clarity we know we will not be able to maintain the same model that exists today. We’ve explored many options over the course of the past two years, but the hard truth is that this business is not fiscally sustainable."

In 2015, Amnesia's ownership changed hands from Shawn Magee to Craig Wathen, the owner of City Beer Store. Different live music acts were scheduled every night, from jazz to bluegrass — resulting in over 4,000 shows over five years.

In their statement, Amnesia's owners remain confident that even with the coming changes, the bar will remain ... a bar.

RELATED: 'New people aren't loyal to the community': Longtime Noe Valley eatery shutters

"What we can say with confidence is that 853 Valencia has been a neighborhood bar-gathering space-for over 100 years; this will not go away," reads the statement. "Before 853 Valencia was Amnesia it was the Chameleon, before it was the Chameleon it was the Chatterbox, and on and on."

Amnesia's last day of business will be February 29, 2020.

Madeline Wells is an SFGATE associate digital reporter. Email: madeline.wells@sfgate.com | Twitter: @madwells22