(AP) The Oakland Ballet said Tuesday that it is closing after four decades because of an ongoing ticket slump and the loss of its performance space.

"This is very sad for us in the city of Oakland," said Linda Crayton, acting president of the Oakland Ballet Board of Trustees.

The decision to close was made at a Jan. 26 meeting. The ballet's seven employees were told of the closure Monday and dancers were being told on Tuesday.

Oakland announced in December it is closing the Henry J. Kaiser Convention Center. The center is home of the Calvin Simmons Theater, where the ballet performs.

The ballet will soon liquidate its assets.