KALAMAZOO, MI (WKZO AM/FM) — Mason Asset Management and Namdar Realty Group have purchased substantially all of the assets, including the majority of the movie theaters, of Goodrich Quality Theaters, Inc. (GQT).
Going forward, the chain will now be known as Goodrich Theater NewCo, LLC (New GQT). This comes after the chain filed for chapter 11 bankruptcy in February, just ahead of the COVID-19 shutdown.
“We are truly excited to be acquiring and reopening the GQT theaters and we remain optimistic about the future of the industry,” New GQT President Mark McSparin said. “We will reopen with the main objective of maintaining quality operations for our guests through cleanliness, customer service, and value. The Goodrich name has been in the theater business for 90 years and we believe that it is important to keep the name going for many more years to come.”
Based in Great Neck, New York, Mason Asset Management and Namdar Realty Group are a real estate partnership that specializes in owning and operating enclosed malls.
Mason Asset Management and Namdar Realty Group have partnered with a theater operating company, VIP Cinemas, to manage and operate the twenty-two New GQT theaters. The theater locations include twelve in Michigan, seven in Indiana, two in Missouri and one in Illinois.
“We are pleased to welcome the majority of GQT’s former general managers and staff to the New GQT team, and are aiming to facilitate a smooth transition to re-opening as early as July 31 at certain locations, pending developments in the COVID-19 crisis,” McSparin added. “The late-July opening will allow the New GQT time to be “ready, set, GO” for all guests ahead of this summer’s biggest hits.”
A list of theaters in Michigan can be viewed below:
- Ada-Lowell, MI (Ada-Lowell 5)
- Ann Arbor, MI (Quality 16)
- Battle Creek, MI (West Columbia 7)
- Bay City, MI (Bay City 10 GDX)
- Cadillac, MI (Cadillac 4)
- Hastings, MI (Hastings 4)
- Holland, MI (Holland 7)
- Jackson, MI (Jackson 10)
- Kalamazoo, MI (Kalamazoo 10)
- Oxford, MI (Oxford 7)
- Port Huron, MI (Krafft 8)
- Three Rivers, MI (Three Rivers 6)
Additionally, the New GQT will honor GQT gift cards and the GQT Rewards program, subject to applicable law. The New GQT will post its safety plans for the New GQT theaters on the GQT website as soon as possible and prior to the scheduled re-openings.
