Bankruptcy Filed By Parent Company Of Colorado Movie Theaters. What Now?

What was once something that some people and families did every week, has been suffering in recent years. Now, one of Colorado's most popular movie theater chains has filed for bankruptcy. Are closures coming?

Popular Movie Theaters Closing In Colorado?

Growing up, going to the movies with your family, and friends, or even on a date was a no-brainer. It was just something we did all the time, like clockwork. I remember standing in lines for hours just to make sure we had a good seat on opening weekend for certain shows.

While certain movies are still rolling in the dough in 2024, like Barbie Movie for example, which made over 1 BILLION dollars at the box office, the movie industry as a whole seems to be suffering. 2020 was the start of this major downfall.

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COVID19 Nearly Ruins Movie Theater Industry Across Colorado

When the COVID-19 pandemic happened, movie theaters were one of the businesses that struggled the most. Movie companies were putting movies out straight to rent at home,  or free on their streaming apps like Disney+ etc. And with the lack of movies being produced during that time, new movies in theaters were few and far between.

Even though blockbuster movies are finally back and consistently rolling out, it's too little too late for some major movie theater companies, including one right here in Northern Colorado.

Metrolux Parent Company Metropolitan Theatres Corp. Files Chapter 11 Bankruptcy

Let us start with how much we love Metrolux. The only theaters in Loveland for years and years, and always our go-to when new films drop. Metropolitan Theatres Corp. which owns the Mtetrolux at the Promenade Shops at Centerra and The Metrolux Dine-In in Downtown Loveland, filed for Chapter 11 bankruptcy protection on Feb. 29. 

According to a statement from Metropolitan Theaters to BizWest, they don't have any plans to close either Loveland location, but that it depends on the current landlords who are owed thousands of dollars in back rent. Roughly $31k is owed for the Downtown Loveland location, and $24k is owed for the Promenade Shops location.

Here's to hoping the Bankruptcy can help restructure the owed debt, and we don't end up losing our beloved Loveland Metrolux Theaters.