Distribution sources have confirmed that the remaining four theaters operated by Kerasotes Theatres are closing immediately. These theaters are located in Chicago (South Loop), St. Louis Park (suburban Minneapolis), Mountain View, California; and San Jose, California (Valley Fair Mall) and all operated under the ShowPlace Icon brand. This news comes just days after the sale of the Secaucus, New Jersey location to Regal Theaters and the closure of the Boston Seaport District location earlier this year.
It has been reported that the St. Louis Park location will be taken over by Marcus Theaters and will reopen in the near future. However, the fate of the other locations remains uncertain as landlords search for new operators. The six theaters operated by Kerasotes grossed $31 million in 2023 and did not rank among the top chains in the U.S./Canada.
This closure is significant not only because it marks the end of a circuit that has been operated by three generations of the Kerasotes family since 1909, but also as a reflection of the challenges faced by the exhibition industry. The chain, which at its peak operated 95 theaters nationwide, was known for its focus on premium services under the Showplace brand.
Gus Kerasotes, a Greek immigrant, opened the first theater in Springfield, Illinois in 1909, which was later expanded by his sons. In 2010, the next generation of Kerasotes (Tony and Dean) sold most of the circuit to AMC Theatres. The closure of the Chicago location has left a gap in theater options for the city’s South Side, leaving only two theaters and 18 screens for a population of 1.2 million.
Tony Kerasotes has confirmed the closures but has not provided further comment at this time. The closure of the remaining Kerasotes theaters is a significant development in the exhibition industry and highlights the challenges faced by theaters as they navigate changing consumer preferences and economic conditions.