CineMagic7 owner files for bankruptcy
Published 10:21 am Tuesday, June 21, 2011
Cinemagic 7 will stay open despite its parent company, Midwest Theaters Corp., filing for bankruptcy Monday.
It looks as if Austin’s CineMagic7 movie theater could remain open, even as its owner files for bankruptcy.
Lori Karsten, general manager of CineMagic7 in Oak Park Mall, said they have “no immediate plans for closing” and that they’re fine right now. But Midwest Theatres Corp., which owns the CineMagic theater chain, filed for Chapter 11 bankruptcy protection (which allows for reorganization) in September 2010, and converted its case to Chapter 7 bankruptcy (liquidation and dissolution) on May 24.
CineMagic7 has 15 employees, all part-time.
Karsten referred all other questions to Gary Westmark, CineMagic vice president of operations, who didn’t return several messages left Monday and Tuesday.
CineMagic has five theaters in Minnesota and Iowa, including Hollywood 12 in Rochester. The manager there didn’t know of any plans for closing, but also referred all questions to Westmark. CineMagic also owned Chateau 14 in Rochester, which closed Jan. 26 and was bought and re-opened by Paragon Entertainment, LLC.
