![]() Many operators applied for PPP loans, which came with restrictions. But it’s not clear how effective that assistance has been. ![]() of Theatre Owners (NATO) lobbied hard to secure federal assistance to beleaguered theater owners. Kong,” which indicated strong pent-up demand for Hollywood movies. This despite the recent box office success of Warner Bros.-Legendary’s “Godzilla vs. The companies that backed theaters are probably also looking at a future in which more movies go to streaming services and fewer films get long, exclusive windows on the big screen before people can watch them in their living rooms. Studios continue to push back their biggest blockbusters, on which theaters depend for survival. With ArcLight, though, the situation clearly reached a breaking point.īeyond costs of rent and stocking up on food and beverage, theaters face an uncertain landscape. “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,” said attorney Jeff Krieger, a partner at Greenberg Glusker who specializes in bankruptcy law. That’s especially true of multiscreen theaters, which are difficult to convert to other uses. ![]() Landlords in many cases have been willing to cut deals with tenants because they haven’t had other businesses waiting in the wings to take over the lease. Rents have been a major issue for other businesses, including retailers and restaurants, that have spent much of the last year closed. Is Arclight Culver City getting evicted? This is posted on their window. ![]()
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