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Owners Fret Over Edwards Bankruptcy

LOS ANGELES-Shopping center owners and developers across the Southland worry that the theater chain's filing could hurt their own projects.

By David M. Kinchen | Updated on August 24, 2000

LOS ANGELES-Many developers here and in other parts of the Southland are holding their collective breath, waiting to see if they’ll be effected by the bankruptcy filing by the Edwards theater chain that was announced late Wednesday.

Edwards Theatres Circuit Inc. is the Southland’s largest chain. It filed for Chapter 11 bankruptcy protection Wednesday in Santa Ana, saying it is saddled with hundreds of millions in debt and reeling from the effects of an industrywide building binge that has gone on for five years.

The 70-year-old Newport Beach-based company simultaneously announced the immediate closure of four theater complexes in Orange County, San Diego and the Inland Empire of Riverside and San Bernardino counties.

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