With some decent planning and advertising and marketing, there's no reason why it couldn't remain open through the summer... serving up great priced drinks in a fantastic location.
I know Tutu's is closed for the summer, pretty certain the waterfront is closed as well by now. Though my flatmate went for a summer job at the union, so not sure what she'll be doing if this is the case! Anyway, I guess it closes early compared to other unis because it's mostly Humanities at the Strand so we all got let out mega early (I've been off since end of March! ). And, most of us live far enough away that nobody would bother to go there especially for the bar.
Yeah it's closed, I e-mailed them. It's such a ncie bar and it's cheap, they should consider it. LSE's bar makes loads of money over the summer by targeting summer school students and London interns.