Sunderland pub owners have made the "soul destroying" decision to close their business until further notice due to the devastating impact of coronavirus.
Barry Hyde and Dan Donnelly, who own The Peacock on High Street West, Sunderland, said they have had a "rapidly decreasing footfall" during the pandemic which meant they were running at a loss.
Some days, they saw a turnover which was 75% below average which they described as "terrifying".
If they were to continue operating, the owners said it could "jeopardise" their present and future situations so had no other option but to close their doors.
In a statement, the owners of the historic pub said: "Due to a rapidly decreasing footfall and clearly slim chances of that changing in the immediate future, we have decided to close the pub until further notice. We are really sad about this, as you can imagine.
"The current circumstances aren't manageable and we have to protect the long-term vision we have for the building at large.
"Not only that but it's soul destroying when you put every ounce of energy into something and see it suffer because of things that are essentially out of your control.
"Anyone in the pub/events business knows how much passion and drive it takes to just open the doors and there aren't many better feelings than seeing those efforts morph into happy times, jubilance and memories for staff and guests alike.
"We have seen a rapid decline in turnover, up to 75% below average on some days which is just terrifying.
"With no football, no private parties and no substantial gigs we have to accept that the only other option would be to run at a loss in order to remain open and this would substantially jeopardise our present and future situations.
"All scheduled events for 2020 will either be cancelled or rescheduled accordingly. We will review the situation as the next few months progress with regards to anything we have booked for 2021, it feels too early to make that call right now.
"So with a heavy heart but a glimmering sensation of hope we say; stay safe, be brave, we will be back, we will dance and drink and sing again."
Barry and Dan took over the pub in October last year and promised big things for the Grade II listed building which dates back to 1901.
The pub has already undergone a huge transformation and is a local favourite amongst pub-goers who enjoy their live music and varied menu.
Earlier this month, the Peacock, on High Street West, Sunderland, confirmed that a member of staff tested positive for the virus.
Pubs now have to close their doors at 10pm due to new restrictions with table service only.
The localised restrictions put further strains on businesses and pubs which were put in place across the region including Sunderland and County Durham.
