Photo by Bill Bryan.

All may not be lost for Mr. Smith’s, the longtime Georgetown saloon that announced yesterday it was closing after more than 40 years.

EaterDC reports that the owners of Mr. Smith’s have worked out a deal to occupy the space currently occupied by another longtime Georgetown restaurant, Chadwicks, which is scheduled to close on August 31.

Management from both Mr. Smith’s and Chadwicks couldn’t confirm that the deal was done but said that they’re in talks. “We’re working on that, we’re hoping to secure a new location for Mr. Smith’s soon,” manager Juan Andino tells DCist over the phone. He says nothing’s been finalized in plans to relocate at Chadwicks’ current space at 3205 K Street NW, but says it’s “one of the locations we’re looking at.”

The closure of Mr. Smith’s was first reported by Young & Hungry yesterday. According to Andino, the reason the longtime saloon is closing and likely moving is because their Boston-based landlord recently upped their rent and they can no longer afford it.