by Dave Vieser
Bankruptcy should not deter expansion.
Plans to expand and/or possibly rebuild the United Artists (UA) Lynbrook Theatre on Merrick Road into a 12 screen facility remain "on track" according to high level UA officials despite the fact that the company declared Chapter 11 bankruptcy last week.
"This financial reorganization was part of our overall plan to strengthen UA's presence in existing markets of importance to us," said Scott Hall, Director of Real Estate for United Artists. "We certainly consider Lynbrook to be an important location for our company."
The expansion and renovation of the theatre was one of the main linchpins in Lynbrook's downtown renaissance, which has proven to be highly successful. Some of the village's new merchants came to Lynbrook with the expectations and anticipation that Lynbrook's theatre would be rebuilt to a state of the art complex.
Despite delays in that project, the incoming retailers have been highly successful since they moved to Lynbrook.
"I'm just really excited to hear that UA has reinforced their commitment to move ahead with plans for their facility here" said Harry Levitt, owner of Mur-Lee's Men's Shop, Past President of the Lynbrook Chamber of Commerce, and Chairman of the Lynbrook BID (Business Improvement District). "Their intention is to show first-rate movies, and we are planning on sending informational packages to other retailers so they know about the excitement we have here in Lynbrook."
In an interview from his Englewood, Colorado office, the home of United Artists Company, Mr. Hall declined to speculate on precisely when the expansion project would actually begin. "I don't want to trigger false expectations by naming a start date which we may not be able to meet. However, I can tell you that the Lynbrook site is very important to us and definitely fits into our future plans."
Originally, the company expected to add on to the existing theatre, which is one of the original "large style" movie theatres built in the first half of the previous decade, that has since been "split" into smaller theatres. Now, however, company officials are mulling over the prospect of a complete rebuild.
"We will have to look at the real estate market, evaluate construction costs and do what is best for both Lynbrook and our company at the time we begin this project," said Mr. Hall. "Either way, however, we intend to be a continuing major presence in the Lynbrook community."
United Artists has closed some 70 theatres around the country, including its multiplex facility at Sunrise Mall in Massapqeua. However, they do not envision any further closings on Long Island. In fact, the company is currently reviewing plans to upgrade it's Patchogue facility, in addition to the Lynbrook site.
"We are all very anxious to see this project move ahead," said Lynbrook Mayor Eugene Scarpato. "Our downtown is looking very nice, and the theatre upgrade will be the final step in the process that will tie the whole picture together. I'm happy to hear that the project is still on track."
Some theatre companies throughout the United States have fallen upon hard times economically, primarily due to "oversaturation" of the market. In addition to UA, Georgia based Carmike Cinemas has declared bankruptcy and both Regal Cinemas and Loews are struggling to meet terms of bank credit.
However, the Long Island market is considered to be a strong area, due mainly to the region's economic strength and it's demographic breakdown which includes a significant number of seniors and empty nesters, considered to be an ideal market for movie theatre patronage by industry experts.
"We had known for some time that the company was going through a financial reorganization,"said Lynbrook Chamber of Commerce President Bill Gaylor. "Hopefully, this is just a formalizing of that process. Meanwhile, our new merchants continue to do very well. It's a good time for Lynbrook."
