A venue billed as Northern Ireland's oldest operating professional theatre outside of Belfast is set to close in August after almost 50 years.
The Riverside Theatre, which opened in the 1970s, has a capacity of about 350 people and is situated within Ulster University's Coleraine campus.
Ulster University (UU) said the building would require significant capital investment to remain in use – with refurbishment works estimated to cost in the region of £745,000, on top of annual running costs of £495,000.
"In the face of unprecedented financial challenges… it is more important than ever that we focus our resources on core academic activities," a university spokesperson said.
Concerns were first raised over the long-term future of the theatre back in January, after UU, which owns the venue, confirmed it was reviewing the way it was used.
In March, the university proposed Causeway Coast and Glens Borough Council consider entering into a lease agreement for the theatre and pay almost £750,000 to carry out what are deemed essential repairs, as well as taking on yearly running costs in the region of £500,000.
The council currently operates two smaller community art venues, Flowerfield Arts Centre in Portstewart and Roe Valley Arts And Cultural Centre in Limavady.
A meeting between council officials and the university to discuss the Riverside Theatre is expected to take place in June.
Why is Ulster University closing the Riverside Theatre?
A spokesperson for the university said they have "supported and delivered this civic asset for fifty years" but "the building itself has now come to the end of its life".
They said the university acknowledges the news "will come as a disappointment to many" but that they wanted to express "heartfelt gratitude to the artists, audiences, staff and supporters" who made it "such a special place for so many years".
The spokesperson added that it "remains open to working with local partners and stakeholders to explore new ways to support arts and culture in the region, even as we navigate these constrained times".
Steven Millar, a local actor in the north coast, has been campaigning against the theatre's closure and said it plays a vital role for the area.
"This theatre belongs to the community— it was built with public money, on university grounds, and has served generations," he said.
"You cannot just close a building like this behind closed doors.
"We've had no consultation, no transparency, and no effort to involve the community this affects most."
Mr Millar said he believed there was "still time to find a creative solution".
"We're calling on the university, the council, and the Department for Communities to meet with us and explore viable alternatives like a charitable trust or shared lease, and work with—not against—the public interest," Mr Millar said.
"The fight is not over," he added
Musical theatre performer Alan McClarty said the closure is "devastating".
"It has been a vital part of our community for 50 years. We need this place, we need it to stay open, we need somewhere for us to be able to tell our stories," he told BBC Radio Foyle's North West Today programme.
The university, he said, has a commitment to the local area, adding with the right private investor "something can still be done in terms of leasing, and in terms resurrecting this place".
Independent MLA Claire Sugden said the theatre was an important venue for a number of community groups across the region.
"The community is at the heart of all of this," she said.
"Let's be honest, the arts is not a priority for decision makers, for government. It seems to be the soft area that gets cuts when cuts are required. Arts provide the colour to life," Sugden added.
