NORTH HOLLYWOOD ( — The co-owners of a North Hollywood restaurant known for parties say they are struggling to stay in business since police required the venue to obtain a permit for its shows.

Co-owners Mario Mira and Lana Petrosyan opened Tokyo Delve’s in 1986, long before the neighborhood gentrification that brought a number of bars and restaurants to the area.

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When the city implemented entertainment permits in 1989, the restaurant was grandfathered in under the new system.

But the co-owners say they’ve seen profits plummet since police told them they need a permit until they can resume their performances, forcing them to lay off dozens of employees.

“People are coming here for the shows,” said Petrosyan. “And with no shows, we get no customers. No customers means no business.”

“We’re making 15 percent of what we used to make,” Mira said.

Capt. Stephen Carmona said an assault with a deadly weapon call in January called the license into question.

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“It was a little bit of a public nuisance and there were some concerns about the drunken crowds gathering after the establishment closed,” Carmona said.

“That’s a fun place, we want it to be a fun place,” he said. “As long as they obtain the proper permits.”

Police are asking for increased security and less over-serving of patrons, something nearby businesses and residents said they support.

Mira and Petrosyan said they are also ready to cooperate with the city to keep their nearly three-decades old establishment in business.

“We love this city,” said Mira. “We want to be an asset.”

The neigborhood council president told CBS2’s Serene Branson he was unaware of the issue and called Tokyo Delves a “beloved NoHo institution.”

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A meeting is scheduled to discuss the matter next week.