After weeks of uncertainty and the specter of closing its doors, Lips Fort Lauderdale has found a last-minute buyer and will stay open.

On Aug. 6, late at night, it was announced the iconic drag venue had been bought by another iconic drag destination, Aquaplex Key West.

“This is an exciting venture for us as we spread our wings from Key West to South Florida,” said new owners Michael and Jonathan Barrett. “We love drag, and we love it here, so it is the perfect venue for us to personalize and make our own. Our Key West experience and success have provided us with inspiration, and we’re looking forward to visualizing it in Fort Lauderdale.”

The pair bought Aquaplex in 2023.

A week ago news that a potential buyer had pulled out was leaked, and days later, performers announced that Sunday, August 11, would be the final shows.

Lips, which was founded in NYC, opened on Oakland Park Blvd. in 2007. From their Sunday Gospel Brunch, to Drag Bingo, to hosting fundraisers and bachelorette parties, Lips quickly became a go-to party spot.

After COVID, there was a marked shift in support from owners. One former entertainer described a revolving door for general managers, and another said the performers (who also double as servers between performances) were essentially doing all they could by themselves to keep things running.

Earlier this year, they drastically reduced their marketing and advertising budget.

The transfer is scheduled to happen next week. No word yet on any plans to change or shake up the venue and reinvigorate the shows.