The Astor Theatre will continue to operate as an independent, single-screen cinema despite fears it would close forever after its owner and proprietor declared they could no longer work together.

Proprietor and owner of The Astor trademark, George Florence, told The Age he would be forced to leave the building by May 14, 2015, due to the lease not being extended.

Doom and gloom at The Astor.

Mr Florence, who has operated the cinema since 1982, said he had tried to engage owner Ralph Taranto in mediation and discussions for years, which he said Mr Taranto "refused to attend".