Writing on Facebook, the club’s owners said Kokomo would cease operations on Sunday, 3 November, after “one last weekend to remember”.
They wrote: “This isn’t goodbye without a party. It’s your final chance to dance under the lights, sing your heart out and make one more legendary memory where it all began.
“Let’s send Kokomo off the only way we know how loud, wild, and unforgettable. Join us for the one last dance on Saturday 2nd November from 10pm.
This summer, the venue was put up for sale, with a listing asking for an annual rent of £95,000.
The site has a main and secondary club room, as well as a VIP area, and can hold up to 400 people.
In 2015, pop star Madonna was forced to flee the venue after several hours of dancing as fire alarms were tripped at the nearby Bamboo club.
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John Blaen, creative director at KOKOMO told the Daily Record: “It’s fantastic to have an artiste of Madonna’s stature choose our venue for her private party. It was a privilege to have her in the club and see her having such a good time.”
The dancers were having a fantastic time and one of them even brought a skateboard with them.”
One onlooker said: “No one realised it was Madonna coming out the club and by the time they recognised her she’d sped away into the night.”