The historic Belmont Filmhouse in Aberdeen has closed its doors after its parent charity called in administrators to all its businesses.
The Centre for the Moving Image (CMI) had suffered from sharply rising costs and reduced trade due to the Covid pandemic.
The charity’s other operations were the Edinburgh International Film Festival and the Edinburgh Filmhouse.
The BBC says 102 people have now lost their jobs - 20 of them in Aberdeen.
Belmont event manager Dillan James Carter told the Press and Journal: "I thought we were struggling, but I didn't know it was this bad. I'm just devastated."
However, there could still be hope for the north-east venue and those who worked there.
Plan for site
Craig Thom, of city cafe Faffless, has already been in touch with the administrators with a plan for a combined restaurant and cinema - and would like take on as many of the ex-employees as possible.
First Minister Nicola Sturgeon was "hugely concerned" by news of the administration.
It puts in doubt the future of the Edinburgh International Film Festival, which is the world's oldest continually-running festival, and comes just weeks after it celebrated its 75th anniversary.
Ms Sturgeon said the Scottish Government would engage with the Edinburgh and Aberdeen councils to see if there was any support that could be offered.
The Belmont Filmhouse has had a long history. The first film was shown in 1898 and featured footage of Queen Victoria at Balmoral.
The cinema later became the Coliseum and then the New Kinema. The site became the Belmont Cinema in 1935, but closed in 1953, and the building was converted into a warehouse.
Reopened after refurbishment
It reopened as the Belmont Picturehouse in 2000 after refurbishment by Aberdeen City Council with assistance from the National Lottery and Scottish Screen.
In 2014, CMI was selected to take on the management and it became Belmont Filmhouse.
Administrators Tom MacLennan and Chad Griffin have been appointed to assess the charity's future and said CMI had been "central to the development of Scotland's thriving film industry".
In a statement, Mr MacLennan said: "Unfortunately, CMI and its three subsidiary businesses have been severely affected by a wide range of factors that have rendered all businesses unsustainable and administration was the only option.
"We are hopeful that businesses already operating in the film industry or entrepreneurs looking to enter the film industry will be encouraged to register their interest in the assets."
In March 2020, just before the Covid pandemic, CMI unveiled plans for a new £50million cinema complex, opposite the Usher Hall, that would become the home for the Edinburgh International Film Festival.