Kalamazoo 10, West Columbia 7 to Reopen (If Theaters Ever Reopen)
Goodrich Quality Theaters are emerging from bankruptcy under a New York investment company and plan to reopen 12 Michigan locations.
The Coronavirus pandemic may be a bigger obstacle than $30M of debt. July 31 is the earliest date Michigan movie theaters will be allowed to reopen under COVID-19 restrictions. Just ask any bar owner, there is no guarantee that this will be the case.
MLive is reporting that New York-based Mason Asset Management and Namdar Realty Group have purchased the bankruptcy debt of Goodrich Quality Theaters and will reopen 22 of the movie houses, 12 in Michigan.
- Kalamazoo 10 | Kalamazoo
- West Columbia 7 | Battle Creek
- Three Rivers 6 | Three Rivers
- Jackson 10 | Jackson
- Hastings 4 | Hastings
- Holland 7 | Holland
- Ada-Lowell 5 | Ada
- Cadillac 4 | Cadillac
- Quality 16 | Ann Arbor
- Bay City 10 | Bay City
- Krafft 8 | Port Huron
- Oxford 7 | Oxford
Here's the good news:
One thing that you can expect right away is a reduction in concession prices, and in most cases, ticket prices. We have built our other theater operations on the promise of value and will continue to make that a hallmark of the New GQT operations.
-Jake McSparin, VP of Theater Operations.
The bad news may be the movies. Hollywood may have a few fully produced movies in the can that they haven't released since March of this year, but not enough. It's not like the essential businesses that have continued to provide the infrastructure to get food an supplies distributed and goods like cars manufactured. Hollywood came to a full stop and there is going to be a lag before everything is up to full speed. Drive-in movie theaters have been showing classic movies but that may not play as well in an indoor theater setting- it's not the same as the drive-in experience.
We wish the new owners luck and look forward to seeing some of our favorite theaters reopen. God knows, we could use a couple of house of escape from reality right now.