EXCLUSIVE: Refresh for more details The last thing we had to hear as the box office and the exhibition of the pandemic fell back was bad news, but the spread like wildfire in distribution and exhibition circles that the Arclight Cinemas and Pacific Theaters will not reopen . The chain has issued a statement below.
Last week I heard that the chain for a commemorative weekend is starting again A Quiet Place, Part II and Cruella, now the hope seems to be dashed and at an unfortunate time, because Los Angeles County is expected to have the opportunity to function at 100% in the cinema before the governor of California Governor Newsom on June 15th. Decurion’s crown jewel in his Arclight suite is the Hollywood Multiplex and the 58-year-old Cinerama Dome location on Sunset Blvd, which made a major title in Quentin Tarantino’s Oscar-winning Once upon a time in Hollywood and is many filmmakers’ favorite place. The Hollywood Arclight is also one of the best cinemas in the country; once again a huge blow to the industry and the LA market which is in the fourth week of a strong reopening.
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Here is the statement of the chain:
After closing our doors more than a year ago, we need to announce today the difficult and sad news that Pacific will not be reopening its ArcLight Cinemas and Pacific Theaters locations.
This was not the result anyone wanted, but despite a great effort to exploit all possible options, the company did not have a viable way forward.
To all the Pacific and ArcLight employees who have dedicated their professional lives to making our theaters the best places in the world to watch movies: we are grateful for your service and dedication to our customers.
To our guests and members of the film industry who have gone through such a magical experience over the years: our heartfelt thanks. It was an honor and a pleasure to serve you.
Behind the scenes, what I hear technically happening is that Decurion has returned the keys to all the owners of all their Arclight and Pacific properties. This does not mean that the chain is bankrupt, but rather part of a thick lease. What happens in this case is that the landlord decides which keys he wants to keep and what he wants to return to the exhibitor. Not a word yet that the necklace is for sale; I think they are waiting to see what leases they get. Many of the Arclight venues do not own the chain, and these are the ones I am told where they are really upside down on their leases.
But this is not good for the reopening of Arclight and Pacific, because we also hear that the chain is giving notice to the theater staff.
The news on IndieWire revealed over the weekend that Arclight’s new Culver City location was in arrears with the March rent up to $ 181,900.40, which is fully due to collection agent Caitlin Brannon.
Given how popular the Cinerama Dome is with studios and filmmakers – heck, Tarantino blew Disney for pushing Hate eight from the cinema cinema he custom made his 70MM western for December 2015 Star Wars: Force Awakens was locking up a number of large auditoriums – I can not see this Hollywood landmark falling by the wayside. If Decurion cannot revive it, someone must come along and upload the property.
Most of these Arclight cinemas are in excellent malls in Santa Monica, Sherman Oaks and Pasadena. There’s even a new place in Boston. It’s a two-way street for these exhibitors and landlords: they need each other to continue with excellent business. These are some luxury cinemas and if Decurion could not revive them, another exhibitor, perhaps an international one like Cinepolis, might do so.