EXID's label Banana Culture Entertainment is reportedly closing its doors.

With LE leaving the agency today, all 5 EXID members have officially moved on from Banana Culture. According to reports on March 25, the label's major executives and staff members have also stepped down from the company, and it will be officially shutting down. 

One insider stated, "Banana Culture is wrapping up all of its contracts with its artists. All the major executives and employees have left the company. If actor Lee Jung Hyun and Han Seung Ri leave, everything will be organized. There are practically no employees available."

As previously reported, Hani and Junghwa parted ways with Banana Culture in May of last year, and Hyerin, Solji, and LE followed suit this year.

Stay tuned for updates.