Locals say the way it has been handled has left many “feeling disrespected and shut out.”
The venue is billed as Northern Ireland’s oldest operating professional theatre outside of Belfast and had been operating for almost 50 years.
The theatre, which opened in the 1970s, has a capacity of about 350 and is situated within Ulster University’s (UU) Coleraine campus.
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.
UU does however have to pay £6.3m annually to the Strategic Investment Board (SIB) after Stormont previously agreed to a loan of £174.3m for its vastly overbudget Belfast campus.
That will be paid off for the next 25 years, as the campus originally expected to cost £254m ended up costing around £364m.
Actor and campaigner, Steven Millar.
News Catch Up – Wednesday 30th July
Local actor and lead campaigner to save the theatre, Steven Millar, said: “The truth is, Riverside Theatre will close its doors this Friday with no formal consultation, no transition plan, and no agreed feasibility review, despite being one of Northern Ireland’s most significant cultural venues.”
He said UU has pressed ahead with this decision despite ongoing public opposition garnering 4,500 signatures and many letters of support.
Mr Millar also explained that a fully costed rescue plan was submitted in June by community stakeholders.
No alternative venue is planned for dozens of community groups, schools and performers who relied on the theatre, he added.
To see it mothballed behind closed doors, without local dialogue or creative problem-solving, is painful for so many people
“The way this has been handled has left many local people feeling disrespected and shut out,” he said.
“Riverside was built through public and charitable money in the 1970s. It was dedicated by the Queen. It served as a professional arts venue, teaching space and community hub.
“To see it mothballed behind closed doors, without local dialogue or creative problem-solving, is painful for so many people here.”
Mr Millar continued: “That said, there is a glimmer of hope. The Coleraine Fund is now actively exploring options to create a new cultural space for the borough.
“While nothing can truly replace Riverside’s legacy, there’s a strong sense locally that Coleraine deserves, and needs, a dedicated arts venue.
“We’re determined not to lose that vision, even as the curtain falls on this chapter.”
UU has been contacted, but previously said it wanted to “focus our resources on core academic activities”.