MINNEAPOLIS (AP) — A longtime Minneapolis restaurant that was once named the best bar in America by Esquire magazine plans to close next year.

Owners of Nye's Polonaise Room in northeast Minneapolis told employees Monday that it will shut its doors after 65 years in business.

Nye's bills itself as home to "The World's Most Dangerous Polka Band." Esquire named Nye's the best bar in America in 2006.

Rob Jacob, who co-owns Nye's with his brother Tony, says Nye's had been struggling financially for years and was no longer able to be competitive.

Nye's is scheduled to close in August or September of next year.