Hi Everyone,
Please find below a statement that we recorded, with some updates for the community regarding potential sale opportunities you may have read about in the news. One day, I plan to learn how to express myself using solely written language. But until that day comes, please excuse the use of film clips… I find that such shared cinematic moments are capable of conveying a message more sincerely and precisely than words alone ever could.
All the best,
Greg Laemmle
Greg Laemmle here, with an update for our loyal patrons.
You may have heard through the grapevine that our company is up for sale again.
That’s not the case.
What is true, is that we are considering the sale of certain theatre properties.
This isn’t an ideal course of action, but it is something we need to do.
Stimulus programs to date have not been particularly helpful for businesses that are entirely shuttered.
And we’ve been closed for four months, with no reopening in sight.
Our goal is to free up cash, and shore up the financing of our remaining locations.
This isn’t an easy choice.
Bit it will allow Laemmle Theatres to survive.
If we do sell a property, we will secure a lease-back agreement, that will allow us to resume operations once local public health officials deem it’s safe to do so.
For those who think this is trivial, I get it.
There are more important things to worry about right now.
Nothing matters as much as our health, the well-being of our loved ones, and the safety of all essential workers.
But it’s also important to have something to look forward to.
And at Laemmle Theatres, we want to make sure that seeing a movie at your favorite theatre can be part of that future.
I want to thank the Laemmle community for your patience and understanding during this period.
We’ll do our best to keep you updated, as more information becomes available.
In the meantime, remember, always wear your mask.