Thursday, January 27, 2022

AMC Entertainment Takes Over Two More Arclight Cinemas And Pacific Theatres – In LA, Chicago

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Giant cinema chain AMC Theatres stated it’s reached lease agreements and plans to reopen theatres within the Los Angeles and Chicago markets — starting operations at AMC Northridge Fashion Center 10, a Pacific theatre, in Northridge, Calif., within the and on the AMC Chicago 14, formally an Arclight location within the Lincoln Park neighborhood, below their new names in spring of 2022.

That deliver to 4 the previous Pacific & Arclight places AMC has acquired in 2021. AMC stated it stays in lively discussions with different property house owners concerning extra presently closed places.

“These theatres have previously been high-traffic, successful locations, in two of AMC’s top markets, and we are pleased to offer the AMC experience at them a few months from now in 2022,” stated AMC CEO Adam Aron.. “These are prime examples of how AMC is staying on offense, looking for opportunities to strengthen our company through the acquisition of these popular locations.”

He stated the exhibitor’s most up-to-date acquisitions of AMC The Grove 14 and AMC Americana at Brand 18 are already exhibiting success, routinely ending within the high 10 theatres in field workplace efficiency amongst greater than 150 theatres within the LA market, and within the high 30 within the U.S.

The pandemic crushed U.S. exhibition and a few chains didn’t return. Pacific Theatres Exhibition Corporation, which incorporates Arclight Cinemas, filed for Chapter 7 chapter in June. Soon after, AMC reached an settlement with Los Angeles actual property titan Rick Caruso for the leases to the 14-screen Grove Theatre in Los Angeles and the 18-screen Americana at Brand Theatre in Glendale, CA, situated at their respective out of doors malls.

(The business remains to be awaiting phrase of the prospects for one in every of its favourite places, the Cinerama Dome and sister Hollywood Arclight Cinemas, owned by Decurion. Deadline reported just lately that the placement is within the planning levels of refurbishments with no reopening date set.)

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