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TOPIC: Cinemastar Luxury Theatres Files For Bankruptcy

Cinemastar Luxury Theatres Files For Bankruptcy 07 Jan 2001 17:53 #1093

  • muviebuf
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Profiled not long ago in Boxoffice Magazine as one of the 'up and comers' Cinemastar filed Chapter 11 on Friday.

When I read the Boxoffice article about what they put into their theatres I kept asking myself how could they possibly make this thing pay? Well the answer is .... they can't. There simply isn't enough profit in movie tickets and popcorn to support the overhead of these kind of plexes regardless of the competition situation.

Traditionally Chapter 11 is just a delaying tactic before the inevitable Chapter 7 liquidation when a company cannot come up with an acceptable reoganization plan. Since the economics are not there to start with just what is going to happen to these places?
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Re: Cinemastar Luxury Theatres Files For Bankruptcy 08 Jan 2001 20:33 #1094

Independant operators are going to spring up and take over some of these locations. Lease hungry bankers will prob be glad to lease for a pretty good deal.
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Re: Cinemastar Luxury Theatres Files For Bankruptcy 09 Jan 2001 10:06 #1095

  • Mike
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If you can take over a theatre for .20 on the 1.00 the numbers can work quite nicely.

Mike Hurley
www.bigscreenbiz.com
Michael Hurley
Impresario
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