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Waverly, IA: Palace Theatre Closed

Posted on Tuesday, February 27th, 2018 2:57 PM

The Palace Theatre in Waverly, Iowa closed abruptly on February 18, 2018.

The news was announced on the theater's Facebook page, with an equally abrupt note that read:

Theatre is closed permanently.

A few hours after dropping that bomb, they did follow up with another message:

Answers for public questions:

1) Why is it closing?

The theater is having trouble cash flowing due to low volumes of customers. It is no longer viable to operate under its current business structure.

2) Is it for sale?

The future of the building and the business will be evaluated as to potential interest from any private buyer or a public group that might come forward. At this time there is no concrete plan and ownership is open to discussion about the future of this important downtown building and/or business.

3) What do I do with passes that I currently have?

We can no longer honor outstanding passes as the theater is broke and there are no more plans to be open under this structure of operation.

4) What will happen to this building?

At this time there are no concrete plans. It is a very unique building with some significant unique internal structure as a theater

Moviegoers in the area will need to visit one of the other nearby theaters, including the Marcus College Square Cinema in Cedar Falls (~15 miles away) and the Marcus Crossroads Cinema in Waterloo (~20 miles away).

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