Madstone Theaters announced Monday it will discontinue operations in Salt Lake City and six other cities in which it operated movie theaters.
The New York-based company said it was "not able to achieve its business goals."
The Salt Lake theater went dark Monday, said Madstone spokeswoman Erin Owens. Madstone also operated theaters in Albuquerque; Cary, N.C.; Denver; Tampa, Fla.; San Diego; and Baltimore.
Madstone was founded in 1999. It opened its four-screen Salt Lake theater at Trolley Square in August 2003, after spending an undisclosed amount of money to renovate the space — which formerly housed Trolley Square Live! — and add a lounge and concession bar.
The Salt Lake theater featured regular, independent and classic films. Owens did not have information about what would become of the Madstone space.
In North Carolina and San Diego, Madstone said the theaters will go black until they can be reopened under new management. The theater in Tampa will continue to operate but under new management, the company said in a statement.
Madstone closed its theaters in Atlanta, Ann Arbor and Chandler on June 1.
The company's theaters underperformed "chainwide," Owens said.
Monday's announcement followed the closure of Westates Theatres last Thursday. Located across the street at Trolley Corners, 515 S. 700 East, the Westates property also cited underperformance when it closed its doors. The theater will be replaced by a 24-Hour Fitness club. Chad Moore, a retail specialist with Commerce CRG, said last week that the new fitness center will encompass 20,000 square feet and is expected to open Dec. 1.
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