EXCLUSIVE: Refresh for more details The last thing we needed to hear as the box office and exhibition were rebounding from the pandemic was a piece of bad news, but word spread like wild fire in distribution and exhibition circles that the Arclight Cinemas and Pacific Theatres won’t be reopening. The chain has issued a statement below.
Last week, I was hearing that the chain was shooting for a Memorial Day weekend reopening with A Quiet Place Part II and Cruella, now those hopes look dashed, and at an unfortunate time because it’s expected that Los Angeles County could get the opportunity to operate at 100% capacity in movie theaters well before California Governor Newsom’s June 15 wide-open order. Decurion’s crown jewel in its Arclight suite is its Hollywood multiplex and its 58-year old Cinerama Dome location on Sunset Blvd which made a big came on in Quentin Tarantino’s Oscar-winning Once Upon a Time in Hollywood and is many filmmakers’ favorite venue. The Hollywood Arclight is also one of the highest grossing movie theaters in the nation; again a huge blow to the industry and the L.A. market which is in its fourth week of a robust reopening.
TCL Chinese Theatre Reopening In Time For ‘Godzilla Vs. Kong’ – Updated L.A. Exhibition Rundown
Here’s the chain’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.
Behind the scenes, what I hear that’s technically happening is that Decurion has handed the keys back to the landlords on all their Arclight and Pacific properties. That doesn’t mean the chain is bankrupt, rather is part of a thick lease negotiation. What happens in this instance is that the landlord decides which keys to keep, and which they’d like to return to the exhibitor. No word yet that the chain is up for sale; I think they’re waiting to see what leases they get back. Many of the Arclight venues the chain doesn’t own, and it’s those that I’m told where they’re really upside down on their leases.
But not boding well for Arclight and Pacific’s reopening is that we also hear the chain gave notice to its theatrical staff.
News broke on IndieWire over the weekend that Arclight’s new Culver City location was in arrears on its March rent to the tune of $181,900.40, due in full to collections agent Caitlin Brannon.