It seems that the oft repeated rumor is true, CBCB’s owner Hilly Kristal has stated that “…he’ll start disassembling his club, which has been a fixture on the Bowery since 1972 and start scouting locations in Sin City. Kristal announced that, following a long legal battle with his landlord, he’ll shutter the legendary club Sept. 30 […] The club, which has struggled to avoid closing its doors for nearly a year and a half, will host its final show Sept. 30. No lineup for the club’s final show has been revealed, nor has it been revealed if owner Hilly Krystal will move the joint to a new location after he shutters his club once and for all.” 
CBGB was first first opened in 1972 in the (then rough and tumble) Bowery for one main reason; low rent. Reportedly 600$/month, a far cry from the supposed 45,000$/month that is being demanded now from its landlord, the nonprofit organization the Bowery Residents’ Committee. It’s easy to see that even if the club was packed nightly it wouldn’t be able to keep up on the rent. Of course can you mention CBGBs ever without mentioning The Ramones? I know I can’t. While it’ll never be the same, let’s hope that CBGBs at least keeps the spirit and legend of the famed club alive, and not become just another Hard Rock (although CBs almost has that already with the iconic t-shirt).