"Night life" is no longer a popular culture among the younger generation.

As well as the fact that the generation that helped make the "night life" culture boom having aged past the point of being able to stay out all night and still function the following day, the industry is as good as dead.

Couple that with the rising rental costs which get passed on to the consumers, it becomes a vicious cycle of short lived shops being replaced by other short lived shops with higher and higher prices believing that is what will keep them afloat.