Edwards filed for Chapter 11 protection from creditors under the US Bankruptcy Code last year. Jillian's officials would not comment. In a published report, the leasing company, Parker-Lincoln Commercial Properties, calls the tenant pullouts a minor setback.
When the project was unveiled in 1999, it caught competitors by surprise. They canceled plans for similar ventures in Downtown Raleigh, 150 miles northeast of Charlotte. Edwards and Jillian's committed quickly to the enterprise. Soon others became interested in signing as MarqE tenants, including several restaurant companies.
It was at this point that the project started to lose some of its momentum, according to a published report. Bad weather and inspection delays were no help. It was then determined by city inspectors that the entire project was too big.
PLC Commercial suddenly decided to change leasing agents. Taubman Centers Inc. was replaced by Parker-Lincoln and no one has explained why, according to the published report. Since Edwards filed for bankruptcy protection last year, finding another theater company has proven to be no easy task.
Parker Mount, the national director of real estate for Jillian's Entertainment, would not comment on the company's decision to withdraw from the project. The tenants that have inked leases at MarqE have the right to dissolve the agreement if there is no theater, according to the published report.
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