In an unexpected move, NeueHouse, the members club and co-working space that catered to creatives in Los Angeles and New York, and partnered with some of the biggest names in Hollywood on events and programming, is shutting down and filing for bankruptcy.

The company informed members about the decision Wednesday evening, with its final day of operations set for Friday, Sept. 5. It added that the company would be filing for Chapter 7 bankruptcy, which typically involves liquidating assets.

“Although NeueHouse has created an extremely valuable business that is prized by members and event hosts, unfortunately, it has been burdened by legacy liabilities,” the company told members. “While this is certainly not the outcome we envisioned for our business, we believe it is the most responsible path for all our stakeholders, though we deeply regret the impact this decision will have on our valued employees, members and customers.”

It is not immediately clear what those liabilities were that sparked the imminent closure.

NeueHouse has locations in New York’s Madison Square neighborhood, Hollywood and Venice Beach, and was a frequent host for Hollywood events, including film and TV premieres and screenings, and conversations and panels with notables from the world of entertainment, culture and fashion. Just about every major company in Hollywood, from Disney and Paramount to CAA and Amazon, had held events in the company’s locations.

Its members included Hollywood, media, fashion and design creatives, as well as tech and startup founders, with a focus on combining a creative working space with an array of programming and ancillary services.

It opened its Venice location less than three years ago, in a building owned by The Sting producer Tony Bill.

The company has also dabbled in media, launching a podcast series earlier this year called My Hollywood Story with Stacey Wilson Hunt.