Maltings which has operated in Grantham for the past 56 years have closed.
But the owners of the maltings, built in 1964 between Harlaxton Road and Springfield Road, say they have no plans to demolish them.
Built by Paul & Sandars in 1964, it was the last operating maltings in the town.
The closure cost about £1 million in redundancy payments and a further £2m through non-cash asset impairments
Australian-based maltster United Malt Group says it will consolidate production at a second malt house at Witham and Arbroath in Scotland.
At their peak, he Grantham maltings produced around 30,000 tonnes of malt, mostly for traditional UK brewers.
It was the last maltings in a town which once had more than 20, including Lee & Grinlings and Pidcocks.
Dr Richard Broadbent, president of the company, which trades in Britain as Baird’s Malt, told GM that they had no immediate plans to demolish the iconic building.
He said although outline planning permission had been approved for housing on the site, this had expired.
He said: “We are looking at options for repurposing the site after we ceased malting a couple of months ago.
“As things stand, no decision has been made on what will happen to the site in the long term.
“Any permissions we had for the Grantham malting sites have long since lapsed.”
Meanwhile, Bairds’ Scottish malting facilities are being upgraded to add 79,000 metric tonnes of capacity across its Arbroath and Inverness sites.