BEVERLY HILLS (CBSLA) – Struggling arthouse theater chain Laemmle is closing the doors of its historic Music Hall in Beverly Hills after more than four decades.
Laemmle announced Thursday that the Music Hall on Wilshire Boulevard would be closing after 45 years.
“November 21, 2019 will be our last day screening movies at the Music Hall,” the company wrote on its blog. “We began operating the theater in 1974 and have shown literally thousands of movies from all over the planet.”
President Greg Laemmle told the Los Angeles Times that the company does not expect to close any other theaters through at least the end of 2020.
“It has been my family’s privilege to operate the Music Hall for 45 years but it’s time to end our stewardship,” Greg Laemmle said in a statement.
This comes as the Times reported Thursday that the family-owned company was canceling the sale of its chain after being on the block since August. Laemmle was unable to reach a deal with potential buyers.
Ticket sales for Laemmle were down 30 percent during the first six months of 2019, but have seen an uptick since then, the Times reports.
With the closure, Laemmle now has seven locations in Claremont, Glendale, Santa Monica, Encino, North Hollywood, Pasadena and West L.A.
Laemmle has been family-owned since it first began operating in 1938. It has 60 to 70 full-time staff, the Times reports.