""It is with a heavy heart that we announce the permanent closing of Pruneyard Cinemas," the theater posted in a banner on its website. "This decision has not come easily, and it reflects the challenges we have faced over the years." The post blames a variety of economic shocks, including the COVID-19 pandemic, the 2023 Hollywood writer and actor strikes, along with rising costs "that have made it unsustainable for us to continue.""
"The lawsuit, filed on Dec. 19, alleges Regency Centers - the Florida-based property company that owns The Pruneyard - unfairly raised rents for Pruneyard Cinemas, despite a range of market challenges dragging down the theater business. The lawsuit also accuses Regency Centers of mismanaging the shopping center, blaming the company for declining foot traffic and the departure of other nearby businesses."
Pruneyard Cinemas will permanently close on Jan. 25 after eight years at The Pruneyard shopping center. A lawsuit filed Dec. 19 alleges Regency Centers unfairly raised rents and mismanaged the center, contributing to declining foot traffic and tenant departures. The suit seeks rate abatement and penalties after Regency refused lease relief during the pandemic and imposed a 20% rent increase. The theater cited economic shocks — COVID-19, the 2023 Hollywood writer and actor strikes, and rising costs — as making operations unsustainable. Longtime patrons are dismayed and nearby businesses are concerned about losing theater-driven foot traffic; Regency did not respond to comment.
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