Pictured: CJ Foster was the managing director of The Daily Globe pub in Bath Street.

A popular town bar known for its disco bingo and steak nights will close at the end of the year – citing the cost of living crisis and increasing rent.

The Daily Globe’s managing director CJ Foster wrote on Facebook that it was “with a heavy heart” that he would be closing the venue in late December.

But he suggested that the pub’s popular Disco Bingo nights, which see participants play bingo with school disco bangers and 80s disco classics, could return in a different form.

“I will be taking January and February off and spending more time with my wife and family before deciding what to do next,” wrote Mr Foster, hinting that this “may be taking Disco Bingo around the island”.

The venue, he said, had overcome years of challenges including the 2008 recession, the covid-19 pandemic, and the cost of living crisis.

Mr Foster became manager of The Daily Globe on Bath Street in 1991, before buying the business in 2002 – and he describes himself as “the chef, cleaner and Disco Bingo MC”.

In the social media post, The Daily Globe reassured customers that bookings are safe all the way to Christmas.

Mr Foster added: “I want to take this opportunity to thank all of our customers, past and present, for your support over the last 37 years.”