The nationwide theater chain, based in Chestnut Hill, MA has joined a number of other movie-theater owners in reporting red ink this year. UA Theaters, Carmike and Edwards have already filed for Chapter 11 protection from creditors under the US Bankruptcy Code, while Regal and Loews Cineplex are also seeking debt relief from lenders.
General Cinema has been trying to exit Florida for months but apparently could not find buyers for its 11 properties in the state. Now all are being closed. The firm has operated eight-screen multiplexes here, as well as in Coral Springs, FL and Plantation, FL and a six-screen facility in Palm Beach Gardens, FL.
The theater chains blame their problems on competition from megaplexes of 16 screens or more, along with few blockbuster movies to spark business.
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