Icey, it was V-Vodka before, the one immediately in front of you on the corner at the Port end of the main street after you turn right past the cashpoints at the end of the fountains before turning left again up towards (old) Pussycat / Mambo etc.
They had a music policy change a couple of years ago - seem to remember it used to be pretty hard in there before but then it changed. Just sounds like they opened too early this year, and ran out of money because not enough people came at the start of the season and can;t survive just on workers. June and second half of September (even before) have always been quiet in San Antoni. I've been there round opening and closing times, and also in June, and found the place like a ghost town with only workers in the bars etc. But it is abnormal for this to go on well into July.
Just sounds like there are more bars than demand each passing year (bars bomb every year - just look at Plastik etc in all its previous incarnations), so some need to close to allow the others to pick up the trade that's there and stay busy. Ibiza Rocks bar was busy enough last Tuesday. The well-known brand bars and those in the best location will likely get enough business when numbers are down, but those on the outlying areas will suffer. Tastes and trends change, and not everywhere can be booming every year. San An will evolve and be busy again soon enough, I'm sure !