After ArcLight Cinemas’ closure, what happens next?April 16, 2021 – Media Mention
Bankruptcy partner, Jeff Krieger, provided commentary to Los Angeles Times regarding the announcement that ArcLight Cinemas and Pacific Theatres will not be re-opening. COVID-19 closures have caused many businesses, such as movie theaters, to incur insurmountable amounts of debt making it very difficult to recover. The future of box-office also remains uncertain, as many companies that backed theaters are moving towards streaming services.
“In the past, landlords can aggressively deal with a tenant who’s not able to pay, but that has not been the case since the pandemic.”
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