Rumors quickly spread around the Eugene music scene a few months ago that popular downtown venue, Hi-Fi Music Hall, was in financial trouble and may be closing.

The venue has now clarified the rumors via press release.

The bar and music venue will close “on or around December 13, 2018 for “up to 3 months,” the press release states. The closure will allow an incoming ownership team to apply for a new liquor license, while making upgrades to the facility, according to current venue owner Danny Kime.

Opened in 2015, Hi-Fi Music Hall has two stages: One large hall for bigger named acts, and one small bar/lounge space for more intimate shows. Kime will stay on as an owner of the venue, under a new company name, a Hi-Fi press representative says.

Planned upgrades to the facility will include building “a speakeasy bar in the back end of the building that will be open five to seven days a week,” Kime explains in the release. The venue will be allowed to operate under a temporary liquor license for seven shows currently scheduled during the closure, according to the press release.

“People don’t need to worry about getting tickets refunded,” Kime continues, adding “We plan on keeping and rehiring the same friendly faces that our patrons have grown to love and respect.” In addition, Hi-Fi Music Hall is booking and confirming a full slate of concerts for when the venue reopens, the release says.

“Hi-Fi Music Hall should become one of the premiere music venues on the I-5 corridor because the venue is in a much better position financially,” he goes on, “with a cooperative and enthusiastic management team that can help us operate the entire business in a more efficient way.”

So good news, Eugene music fans. It doesn’t look like Hi Fi Music Hall will be going anywhere any time soon.