The wealthy Forman family of Los Angeles is shutting down the 300 theater chain including the ArcLight and Pacific Theaters. For good.
This includes the 58 year old historic Cinerama Dome in Hollywood.
It’s a ploy as landlords to see what they can get for the real estate. Someone, maybe Netflix, will swoop in and save the Cinerama Dome, no doubt.
But the other 300 theaters are in peril. With theaters shut for the pandemic, Decurion– the Formans’ corporation — is losing money. If you saw the mansion Christopher Forman lives in, which he bought for $27 million in 2007, you’d see why preserving cinema isn’t of much interest.
This is a tragedy. Even if a white knight comes in, this is a blow to the theater business.
Here’s Forman’s Bel Air mansion. Think he’s got a screening room in there? Closing it down? Nah.
Hey LA, we know what it’s like. We lost the Ziegfeld and many others in recent years. It’s a shock.
Here’s the chain’s lame 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.
