As Raymond's curtains close...

The curtains today closed on Raymond Revuebar, Britain's first licensed nude strip club.

Raymond's, which went into administration in February, has been bought by a West End club entrepreneur who is turning it into an venue for London's clubbers.

Raymond's suffered in recent years from the massive decline in the numbers of Asian businessmen coming to London.

Meanwhile, lapdancing rivals Stringfellows and Spearmint Rhino were eating into its takings and proving more aggressive marketing machines, targeting young City traders and celebrities.

Paul Richardson, who has a number of clubs in Soho's gay village, is turning it into Too 2 Much, which he describes as a "polyamorous" destination for late-night partying and cabaret.

"When I say polyamorous, I'm talking about gay boys, straight boys, gay girls and straight girls looking for superpremium indulgence," he said.

Paul Raymond created a mini-revolution when his club opened in April 1958. He went on to make canny investments and at 77 is one of Britain's richest men.

He sold the club six years ago but as owner of 60 acres of Soho property, remains its landlord.