It's last orders at Guy Pelly's London nightclub, Public. Dubbed "court jester" to the party court of the young Princes William and Harry, Pelly had previously found success at Mahiki nightclub and was reported to have organised William's stag party.
With a photo booth, a dressing up area, a drink called "Warheads" served in a keypad-opening metal box, Public became a hit with rich kids.
It was, however, less popular with nearby residents and the local constabulary, who complained to the council, which restricted its licence. One resident was quoted as saying: "Hard-working people don't want to hear a bunch of Made in Chelsea types running around with mummy and daddy's money."
While few will have much sympathy for all the posh kids who now have to find somewhere new to party, there will likely be several job losses as a result. But with reports that he is already looking for a new venue, it is unlikely that we have seen the last of Mr Pelly.