Lights out for The Speakeasy?

According to Keith Hamilton, a promoter with a show booked for the band Pitter Patter, The Speakeasy has been shut down. A quote from Keith's Stillepost rant:

"The Speakeasy has been closed down... entire sound system removed today.... no more shows or anything at all at the speakeasy."

Sounds like the death of another Toronto venue... With the recent issues with The Social, and the closing of The 360 back in August, is Toronto hurting for good small venues for bands trying to make it?