LOS ANGELES (CBSLA) — ArcLight Cinemas and Pacific Theatres will not reopen due to losses suffered during the pandemic, according to multiple reports.
According to a statement from the company, provided to trade publication The Hollywood Reporter, the company did not have a “viable way forward.”
“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,” the Decurion Corporation said. “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.”
The Decurion Corporation is the parent company of both ArcLight Cinemas and Pacific Theatres.