Seven Steakhouse & Sushi, which has anchored the corner of Hennepin Avenue and N. 7th Street in downtown Minneapolis for almost 15 years, closed Monday.

With three levels and a sprawling rooftop patio, the closure of one of the city's largest establishments leaves a gaping, 30,000-square-foot hole in downtown nightlife and hospitality.

"There's just a point in time where you've got to stop the bleeding," said co-owner Erick Patterson.

The restaurant and nightclub adjacent to Pantages Theatre has been operating at 40% capacity compared to pre-pandemic levels, and open just three or four days per week, Patterson said. "And we've seen it get worse over the last couple of weeks with new added mandates. Downtown is not getting any better from a crime standpoint or from an interest level with clients coming back. We are just burning money at this point."

Staff were informed of the closure Monday. About 120 workers, including security staff, have been let go.

Patterson said he and his partners hope the closure will only be temporary, but he's not optimistic about reopening. "My gut tells me I don't think that's going to be a feasible option," he said.

Seven opened in 2007, and it became a bottle-service playground for celebrities, athletes and musicians, plus pre- and post-theater crowds. Still, it found itself mired in financial woes, including a 2009 bankruptcy. Money problems continued until it was sold at auction in 2017. New ownership tried to steer the place toward becoming a classic American steakhouse by bringing in top Twin Cities chef Sameh Wadi for a consulting stint.

Over the years, the corner has seen other restaurants and entertainment venues come and go, including City Works, and before that Gameworks, in the former Block E. But Seven had always hung on — until now.

"We made it through a lot of stuff with COVID. We made it through George Floyd," Patterson said. "Most people with a restaurant this size would have shut the doors a long time ago."