Last week word circulated that longtime Cambridge rock club T.T. The Bear’s Place would be closing this summer. The venue’s owner, Bonney Bouley, as well as the TT’s staff, have been mum on the issue — until now.

Bouley has issued the following statement, available to be read in full below, which was just passed along to Vanyaland. The final night of T.T. The Bear’s Place will be Saturday, July 25. The venue’s long-time dance party Heroes is currently filling that spot on the calendar.

From Bouley:

“Life is a journey and not a destination.”…. And what a journey I have had. July 25, 2015 will be the last night of T.T’s. I have enjoyed 43 years of owning T.T.’s. It and I have gone thru many changes. We started as a dive bar (bought it in 1973) put in food and ran it until 1980. We were closed from 1981 until we found the building at 10 Brookline St. Miles Cares, his father, his girlfriend, my boyfriend and I built T.T.’s in 2 years. We opened a restaurant, in the space, but had to file for Chapter 11 in 3 years. T.T.’s was again opened as a rock and roll club in March 1984. I am not tired, I am not sick, I have COPD, everyone has to die of something! And I do not deserve a much needed retirement. Contrary to what has been written, I have been trying to degotiate a lease that was given to me by the Saters, in December. I was told that I could look for buyers and they would negotiate the lease. The lease has never been able to be negotiated by me or any buyers. This is not what I wanted, but due to pending financial changes, staying open or trying to sell T.T.’s is not a viable option. Most of all I want to thank the bands.You have brought me joy, love, entertainment beyond measure, happiness and sometimes you have pissed me off!!!! Thru all the years I have respected you, was in awe of you and so proud that you played on my stage. I will remember you always. Thanks for a life well lived.

The fate of what will inhabit the space at 10 Brookline St., a building currently owned by Joseph and Nabil Sater of the adjacent restaurant and live music complex the Middle East, is yet to be determined.

In the meantime, TT’s says the final two months will be quite a party.

FYI we've got two months of great shows to come, and we'll be booking some big names from past & present for a grand send-off in July! — TT The Bears (@ttthebears) May 19, 2015

Stay tuned…