Manager Anthony Proctor says he is 'truly heartbroken' as the curtain comes down for the last time.
In 2018 an agreement was struck between Epstein Entertainments Ltd, Liverpool City Council and a commercial property landlord which owns the lease to the building but subleases the theatre back to the entertainment company.
Councillor Harry Doyle, cabinet member for health, wellbeing and culture, said it had been a "difficult decision" for the council. "It's a difficult decision that has been made, it was made a few years ago, and we as a council had a very complicated relationship with the building."The venue has also been known as Cranes Music Hall, Cranes Theatre and The Neptune Theatre
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