The Sad Saga of How New Operators of the AMC 1000 Van Ness Theater Blew $54 Million In Just 18 Months
Briefly

from sfist.com3 weeks ago
The closure of the 1000 Van Ness CGV Cinemas, formerly the AMC theater, reveals not just the pandemic's effects but also financial mismanagement by CGV, which burned through $54 million in 18 months. After acquiring the lease in 2019 to transform the space into a modern 4D cinema, CGV faced challenges like costly renovations and a declining local economy. Burdened by a $75.2 million rental guarantee, CGV was unable to negotiate rent reductions during COVID, ultimately leading to a secretive purchase of the building to avoid public scrutiny over their financial struggles.
The closure of 1000 Van Ness CGV Cinemas highlights the troubles movie theaters faced post-pandemic, compounded by poor financial decisions and unyielding lease agreements.
sfist.comhttps://sfist.com/2025/03/31/the-sad-saga-of-how-new-owners-of-the-the-amc-1000-van-ness-theater-blew-54-million-in-just-18-months/
CGV’s $54 million loss over 18 months at 1000 Van Ness underscores the high stakes of trying to renovate and modernize a theater in a struggling economy.
sfist.comhttps://sfist.com/2025/03/31/the-sad-saga-of-how-new-owners-of-the-the-amc-1000-van-ness-theater-blew-54-million-in-just-18-months/
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#movie-theater #cgv #financial-struggles #covid-19 #san-francisco
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