Velvet Underground closing after 20 years on Queen St.

After 20 years in the Queen West neighbourhood, the Velvet Underground is shutting its doors for good. A Farewell Party, featuring DJ Shannon, is scheduled for September 5. Guests who post on the event's wall get in free and so naturally, it's already littered with obits lamenting the loss of the club.

Liberty Entertainment Group owns the Velvet Underground, and according to NOW Magazine, the company's shuttering the venerable goth and alt-rock institution to continue expanding its roster of wine bars.

So get ready for last hurrah before you say "there goes the neighbourhood."

What's your favourite memory from the Velvet Underground? Let us know in the comments.

Photo by Loc Nguyen in the blogTO Flickr pool.

by Amy Grief via blogTO