Kerasotes Theatres, a family-owned theater chain that has been operating for over a century, has announced the closure of four of its theaters. These closures, which are expected to take place immediately, will leave a significant gap in the film exhibition landscape.
The four theaters set to close are located in Chicago (South Loop), St. Louis Park (suburban Minneapolis), Mountain View, California; and San Jose, California (Valley Fair Mall). Collectively, these six theaters grossed $31 million in 2023, making them the 32nd largest chain in the U.S./Canada. However, with only two theaters and 18 screens remaining to serve a population of 1.2 million, it is clear that this closure will have a major impact on the local film industry.
The Chicago location is particularly poignant as it was the main theater serving much of the city’s South Side and was an important venue for urban audiences. This closure leaves many residents without access to quality film entertainment options.
Tony Kerasotes, CEO of Kerasotes Theatres, has confirmed the closures but has not provided additional comments at this time. It is unclear what factors led to these decisions or what will happen to the other locations in the future.