Studebaker's was something of a Myrtle Beach landmark, from the same era as Mother Fletcher's and Xanadu (which both predeceased it). The club started in 1981 and celebrated their 28th anniversary in 2009.
I'm not much of a club person, but I was vaguely aware of Studebaker's as a Shag venue where the National Shag championships were held.
As of now, the web site is still up (they must have paid for a full year..) and has a number of videos taken inside the club. This story from the Sun News gives some details of the closing and blames it (or the owner does) on the anti-bike rules Myrtle Beach instituted a few years ago. I can certainly see the we want peace & quiet residents' point -- the annual rallies certainly are noisy and obnoxious, but on the other hand it's probably a bad idea for a tourist town with no industry to take steps to keep people away..
The storefront is in the process of being converted to a Dollar General.