As California is poised to fully reopen in June, Variety reports that Arclight Cinemas and Pacific Theaters are closing down, potentially for good. The popular theater chain will remain shuttered unless a last minute buyer steps in to save the day.
The theater industry has been hit hard by the COVID-19 pandemic. Though rules have varied from state to state over the past year, most theaters have been in a state of partial to complete shutdown for over a year.
The Arclight and Pacific news follows the announcement that Alamo Drafthouse filed for Chapter 11 bankruptcy protection and AMC Theaters are struggling to stay afloat after an astonishing $4 billion loss in 2020.
Will this be the final curtain for Arclight Cinemas and Pacific Theaters?
Both Arclight Cinema and Pacific Theaters have been a mainstay in Los Angeles for years, with Arclight having expanded well beyond. Pacific’s Cinerama Theater can be spotted in several movies, including Quentin Tarantino’s Once Upon A Time…In Hollywood. You might think that LA’s movie theaters would be safe given the city’s status as the entertainment capital of the world, but this news only goes to show how precarious things have become for the industry.
There are a few glimmers of hope amid this sad news. It’s possible another company could swoop in and pay Pacific’s debts so that the theaters could reopen.
Arclight and Pacific are rooted in almost every major mall in Los Angeles and their departure would leave a gaping hole, both physically and in terms of driving traffic to the mall.
Rick Caruso, the founder and CEO of real estate company Caruso, says that theaters will always have a place in his mall properties. “While we are sad to see today’s news, Angelenos and moviegoers across the country can rest assured knowing that there will always be a place on our properties to revel in the shared experience of watching a film together,” he said in a statement. Caruso owns the Glendale Americana and the Grove in LA’s Fairfax District.
As Hollywood gets back to work ahead of summer blockbuster season, it’s entirely possible that these theaters will find new owners and flourish as people return to the movies. For now, though, it looks like this could be the final curtain for a couple of beloved movie theater chain.
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