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- CineMagic St. Peter Cinema 5
St. Peter, MN
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The CineMagic St. Peter Cinema 5 in St. Peter, Minnesota is uncertain, according to a recent article in The Free Press:
Now playing at the CineMagic St. Peter 5 movie theater: “Bankruptcy — The Final Chapter”
The beleaguered business, having failed to reorganize under Chapter 11 bankruptcy proceedings, is now headed for a Chapter 7 filing that could be its death knell.
“We’ll do what we can to keep the theater open, but there’s no guarantee it can be economically viable,” said Russ Wille, community development director for the city of St. Peter that has loaned more than $100,000 to the St. Michael-based ownership group.
The theater is owned by Midwest Theatres Corp., which does business as CineMagic Theatres and operates several other movie complexes in Minnesota, Iowa and Wisconsin.
Midwest filed for Chapter 11 bankruptcy in September 2010. It took over the St. Peter operation from its struggling former owner in 2006 but since then has had financial problems of its own.
Click the Read link below to view the full article.
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- CineMagic St. Peter Cinema 5
St. Peter, MN
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