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TOPIC: Edwards Theaters files bankruptcy

Edwards Theaters files bankruptcy 24 Aug 2000 09:23 #656

  • Ken Layton
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Today it is being reported at www.variety.com that Edwards Theaters filed Chapter 11 bankruptcy on Wednesday.
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Re: Edwards Theaters files bankruptcy 24 Aug 2000 10:44 #657

  • Linda
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Is it just me or this getting kind of scary?
It's easy to say the big guys have brought in on themselves by over building and such, but how long before it filters down to the little guys? Or has it already and is not just the big news?
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Re: Edwards Theaters files bankruptcy 24 Aug 2000 20:22 #658

  • Mike
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When will it filter down to the little guy? #1 these big guys are the ones who killed off many a little guy. #2 this does not mean all Edwards theatres will close but will be reorganized which means some sanity will be enforced on management. #3 Whats triggering this is a weak summer slate being followed by the Olympics and a weak Fall slate as well.

As a little guy I very much notice when a weak August presents itself. I just don't have a 5 million mortage to crack.

I just read that in my state of Maine there's a small chain who built a 12 plex 5 miles from a Hoyts 8. So Hoyts has dropped their prices from 7.50 to 6.00 and gives away FREE popcorn. Sounds great if you like going to the movies!

After a couple years of that foolishness I think someone is going to get tired. I'm not in business for the fun of it (I mean outside of the FUN! of it I happen to really like my work) I need to make a living too. If I had to give away popcorn and drop tik sales 25% I'd be in trouble. Not to mention losing half my customers! Yikes.

Well........ that type of brinksmanship attack cinema death star damm the torpedoes we can do no wrong.... it may get you into trouble and I think it's good and healthy dose of reality for those massive ego's who think/thought every market is attackable even if there's already a nice theatre there.

The sub title in Variety was "Exhibs in financial rut in wake of plex glut" In the Aug. 14th issue Edwards execs denied bankrupt rumours... while Silver, Mann Regal, and United Artists are all showing the same signs. This isn't over yet.

Is this a bad time to bring up digital cinema?


Mike Hurley
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Re: Edwards Theaters files bankruptcy 28 Aug 2000 03:03 #659

  • BurneyFalls
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I need some good used seats. Maybe there will be thousands on the market soon?
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Re: Edwards Theaters files bankruptcy 29 Aug 2000 17:24 #660

  • Mike
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Let's see... Paine Webber says we need to lose 15,000 screens, they need closing. So 15000 X 200 seats = 3,000,000 seats. I've got a deal for you!!!!
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