The Los Angeles Times’ Pop & Hiss blog reports Knitting Factory CEO Morgan Margolis did confirm the club’s last show will take place around Oct. 31. Margolis also said his company is looking for other locations in the Los Angeles area.

“I don’t want the community to think that the Knitting Factory is done in Los Angeles,” Margolis told Pop & Hiss. I’m looking, and have a couple deals on the table. If one of these goes through, there may be a full-on lateral move and no shutdown. It may just be a week or two changeover,” adding, “Or it could be a year.”

The Knitting Factory is more than a club; it’s a national brand that operates music venues in New York City, Spokane and Boise. The company will open clubs in Brooklyn and Reno within the next few months.

When Knitting Factory opened on Hollywood Boulevard in 2000 it was part of a complex that also included a movie theater, Tower Records and the Hollywood Entertainment Museum. But that was then, and now the venue counts a drug store, gym, grocery store and a shoe store as neighbors.

“The Hollywood Corridor from La Brea to Highland is a nightmare,” Margolis said. “The numbers have never been good, and the lease is finally up. I may open up a 350-capacity room somewhere and go small.”

Click here to read the complete Los Angeles Times / Pop & Hiss article.