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Pacific Theaters plans to liquidate after filing for bankruptcy

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Pacific Theaters Exhibition Corp., the California movie chain that has shut down due to the pandemic, says it has filed for Chapter 7 bankruptcy and plans to liquidate, a big loss for moviegoers nationwide in the industry. cinematographic.

The company’s Friday action, which also operates the ArcLight channel, follows a announced in April that the company would not reopen after a year-long shutdown caused by restrictions on coronaviruses.

“After taking steps to liquidate the business, the company is now seeking Chapter 7 protection of the Bankruptcy Code in order to liquidate its remaining assets for the benefit of its creditors,” a spokesperson said in a statement sent by email.

There is still a chance that some locations may reopen. AMC Entertainment Holdings Inc., the world’s largest cinema chain, has had acquisition talks with Pacific, according to Adam Aron, CEO of AMC. Earlier this week, two of Pacific’s Los Angeles locations appeared on AMC’s mobile app, but then disappeared. Neither company has clarified whether they are merging.

Pacific and ArcLight are known for their reserved seats and the lack of advertising before screenings. The chain’s locations include the Cinerama Dome, a Hollywood landmark that opened in 1963. The company had 17 locations and 234 screens across California, as well as in Chicago, Boston and Washington in 2019, according to Boxoffice Pro.

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