Theater is in escrow but has at least six months left, Laemmle president says at screening of “Only in Theaters,” columnist David Allen writes.
If a dear friend were ill, you might wish for a chance to tell them how much they meant to you in case they didn’t pull through.
The documentary follows third-generation president Greg Laemmle in 2019 as he wrestles with selling the family business before deciding to stick it out despite declining attendance, thinking he owes it to fans and to the Laemmle legacy. “I don’t know,” Laemmle said. “We have a contract. We are in escrow.” But if the contract terms aren’t met, he continued, “then the theater would not close.”for $6.5 million, found a buyer in 2021, but the deal isn’t yet final.
“When I heard in the Claremont Courier that you might sell the theater,” another said, “I cried.” She added: “It’s improved my life to have Laemmle here.” “When we learned Claremont was getting a Laemmle,” a white-haired woman said during the Q&A, “it was really like winning the lottery. It was so great.”
The NoHo 7 is “likely to be torn down for a mixed-use development,” Laemmle said. “We’re operating it as long as we can.”. A decision on whether to proceed was needed in April 2020, he said, and the reeling Laemmle declined. However, he noted that the space, set aside for retail, hasn’t been leased, so occupancy is still a possibility.
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