Goodrich Quality Theatres (GQT) is coming back from bankruptcy under new ownership. Mason Asset Management and Namdar Realty Group, a real estate partnership specializing in shopping malls, have purchased the majority of the circuit’s assets and partnered with theater operating company VIP Cinemas to take over 22 GQT locations.
GQT originally filed for Chapter 11 bankruptcy in February, before the Covid-19 crisis took hold of the industry. Returning locations include 12 in Michigan, 7 in Indiana, 2 in Missouri, and one in Illinois.
“We are truly excited to be acquiring and reopening the GQT theaters and we remain optimistic about the future of the industry,” stated Mark McSparin, President of the New GQT. “We will reopen with the main objective of maintaining quality operations for our guests through cleanliness, customer service, and value. The Goodrich name has been in the theater business for 90 years and we believe that it is important to keep the name going for many more years to come.”
Mark McSparin further stated, “We are pleased to welcome the majority of GQT’s former general managers and staff to the New GQT team, and are aiming to facilitate a smooth transition to re-opening as early as July 31 at certain locations, pending developments in the COVID-19 crisis. The late-July opening will allow the New GQT time to be “ready, set, GO” for all guests ahead of this summer’s biggest hits, including Warner Brothers’ Tenet (August 12 release date) and Disney’s Mulan (August 21 release date).”
“One thing that you can expect right away is a reduction in concession prices, and in most cases, ticket prices. We have built our other theater operations on the promise of value and will continue to make that a hallmark of the New GQT operations,” VP of Theater Operations, Jake McSparin shared.
Returning GQT locations will honor gift cards sold during its previous ownership, as well as benefits from its GQT Rewards loyalty program. Revised safety plans for GQT cinemas will be posted on the circuit’s website prior to the scheduled re-openings.
GQT is currently looking to staff remaining job openings with the new GQT team. Interested applicants can follow up with their local cinema or visit www.gqtmovies.com.
Returning GQT Locations
MICHIGAN
Ada-Lowell, MI (Ada-Lowell 5)
Ann Arbor, MI (Quality 16)
Battle Creek, MI (West Columbia 7)
Bay City, MI (Bay City 10 GDX)
Cadillac, MI (Cadillac 4)
Hastings, MI (Hastings 4)
Holland, MI (Holland 7)
Jackson, MI (Jackson 10)
Kalamazoo, MI (Kalamazoo 10)
Oxford, MI (Oxford 7)
Port Huron, MI (Krafft 8)
INDIANA
Brownsburg, IN (Brownsburg 8 GDX)
Huntington, IN (Huntington 7)
Huntington, IN (Huntington Twin Drive-In)
Lafayette, IN (Eastside 10 IMAX)
Lafayette, IN (Lafayette 7)
Lebanon, IN (Lebanon 7)
West Lafayette, IN (Wabash Landing 9)
MISSOURI
Columbia, MO (Forum 8)
Jefferson City, MO (Capital 8)
ILLINOIS
Peoria, IL (Willow Knolls 14)
Share this post