Rocket at Saltwater has been for sale since April this year but today the bar’s closure was announced on its social media channels.
Twelve staff face redundancy from the business.
One staff member said: “We have literally just got the news that it has been bought by another company.
“It was anticipated but it has been very sudden. The bar was changing in a different direction and some people were not a fan of that but in the current market you change or you don’t survive and unfortunately we didn’t.”
The bar opened 16 years ago at The Cornerhouse in Forman Street.
An open air rooftop terrace made it known as one of the city’s popular places to go.
The bar was owned by James Horler, who as well as launching Spanish tapas chain La Tasca and Ego restaurants including The Dorset Arms in West Bridgford, he is also known for re-launching Frankie & Benny’s.