, announced they are filing for bankruptcy under Chapter 7 in order to liquidate their assets for the benefit of creditors.
The assets are said to include equipment, seats, projectors and popcorn machines. In April, the company announced that their 17 Pacific Theatres and ArcLight Cinemas locations, including the iconic Cinerama Dome, would permanently close. “After a year of the pandemic’s devastating effect, Pacific Theatres Exhibition Corporation announced in April that it would not reopen its ArcLight Cinemas and Pacific Theatres locations,” Pacific Theatres said in a statement. “Having taken steps to wind down the business, the company today is seeking protection under Chapter 7 of the Bankruptcy Code in order to liquidate its remaining assets for the benefit of its creditors.
The statement continues, “We are deeply grateful to our employees, our guests, and the film community for coming together over the past decades to create so many wonderful moviegoing experiences. We are overwhelmed by the extraordinary outpouring of memories. Thank you for sharing these with us. We will miss you all.”
With all the multi millionaires in this town, you'd think someone, or a group of businesses would buy Arclight or the Cinerama Dome. WTH people, come on!
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