The Rakes, a punk-rock group from North London, UK, has just announced that they are parting ways. The band, which was formed by Alan Donohoe, Matthew Swinnerton, Jamie Hornsmith and Lasse Petersen in 2002, has decided that the split will be effective immediately and have canceled their upcoming US and UK tours. According to the goodbye letter to their fans, The Rakes came to this decision because “… it’s best to leave you all on a high note, rather than unimaginatively continue, on and on, until before you know it you’re playing an OAP home in Eastbourne and discover all the audience are younger than you.”

The band’s last and final album, KLANG, will be available for iTunes download on October 27. Full refunds will be given to concert goers who have already purchased tickets. For more information, go to your local licensed ticket provider.