Pacific Theathers & Arclight Cinemas to Close due to COVID
On Monday, parent company Decurion announced that both Arclight Cinemas and Pacific Theatres are closing down permanently due to the economic fallout brought on by the coronavirus pandemic, according to a report by Deadline.
🎥: Together Pacific Theaters and Arclight operates 300 theaters, including a location at The Lakewood Mall .
🎥: Deadline reports that Decurion “exhausted all potential options,” and that it returned all of the keys to every Arclight and Pacific theater to their landlords, and the landlord will decide which locations to keep and which to return to the theater chain.
💵: Over the weekend, IndieWire reported that Arclight's new Culver City location was behind on its March rent by $181,90o.
Why it matters:
Decurion's announcement arrives as Los Angeles County recently expanded capacity for indoor moviegoing to 50% after more than a year of being closed. According to Deadline, it's expected by Memorial Day weekend for movie theaters to operate at 100% capacity.
Here's Decurion's statement:
"After shutting our doors more than a year ago, today we must share the difficult and sad news that Pacific will not be reopening its ArcLight Cinemas and Pacific Theatres locations.This was not the outcome anyone wanted, but despite a huge effort that exhausted all potential options, the company does not have a viable way forward.To all the Pacific and ArcLight employees who have devoted their professional lives to making our theaters the very best places in the world to see movies: we are grateful for your service and your dedication to our customers.To our guests and members of the film industry who have made going to the movies such a magical experience over the years: our deepest thanks. It has been an honor and a pleasure to serve you."