Screentime
Poor Box Office Sends 100-Year-Old Theater Chain Into Bankruptcy
- Metropolitan Theatres said 2024 ticket sales are down 20%
- Company’s struggles mirror challenges facing its larger peers
The shrinking North American box office has forced a 100-year-old movie theater operator into bankruptcy.
Metropolitan Theatres Corp. — a family-owned business operating 16 theaters in California, Colorado and Utah — said in court papers that the Covid pandemic and its aftermath on the movie industry stressed its liquidity. Last year’s Hollywood strikes are a further blow because fewer film releases are expected through 2025, the company said.