With the end of the Chelsea Theater’s current five-year lease looming, the future of the Chapel Hill stalwart for independent films remains uncertain.

The theater released a statement suggesting that its current owner Bruce Stone may be nearing retirement.

“On November 16 we will have started our 28th year of operation. Now in the last year of our current 5 year lease, with only a handful of months to go, we must make some serious choices about the future of the Chelsea Theater,” read the release. “Given the advancing years of the current owner it might be difficult committing to another five year lease.”

The theater is openly accepting inquiries for future ownership.

The full statement can be read here.