FRANKLIN-Teresa Bane, general manager of Armory Drive Cinemas, said Monday the three-screen theater in Franklin, the only theater in Franklin or Southampton County, closed last week because owner Howard Gainey is reducing the number of his business holdings due to his advancing age.

However, Bane said talks are ongoing that could bring a new investor to the area who might reopen the theater.

Bane also said that ongoing maintenance issues with the landlord of the Armory Plaza – including timely repairs to the air-conditioning and heating units, and fixing a leaky roof – contributed to the decision to shut the theater’s doors.

Gainey owns other theaters, mainly in North Carolina but was leasing his Franklin space.