Monte's on Brookside closed?

[southerngirl]

We heard rumors that Monte's had closed, and confirmed it this morning walking by their door after brunch.  Sign says they are closed but the patio is available for private parties with 24 hour notice.
Does anyone know what happened and if there are plans for anyting new?  We didn't go often, but always enjoyed their patio and the food and service were both usually excellent.  Always hate to see an independent close.