BUFFALO, N.Y. (WKBW) — The end is near for the AMC movie theatre in the heart of the theatre district in Downtown Buffalo.
The Market Arcade 8 location, which opened to much fanfare in 2018, will go dark at the end of this month.
"AMC is exercising their right to terminate [the lease] and they are going to vacate the theatre and remove their fixtures during the month of January," Martin Dellebovi, Benchmark Group Executive Vice President and Director of Real Estate told 7 News Anchor Jeff Russo.
Dellebovi said Benchmark, which owns the building, offered to reduce AMC's rent to help revenue bounce back to pre-Covid levels.
"We put together a marketing program that we presented to AMC in hopes that we could bring people back to the theatre. And we also offered to reduce some of their overhead expenses but it just wasn't enough for AMC," Dellebovi said.
An AMC spokesperson sent the following statement to 7 News Wednesday:
AMC routinely reviews the theatres in our circuit, as well as opportunities outside of our circuit, and makes decisions on a theatre-by-theatre basis based on what will best strengthen the Company going forward. After careful consideration, AMC will cease operations at Market Arcade 8 after the close of business on Wednesday, December 31. Our commitment to the Buffalo-area moviegoing community remains strong, and we invite movie lovers to continue enjoying the AMC experience at nearby AMC Maple Ridge 8.
A drop in sales at movie theatres post-pandemic isn't limited to just AMC's downtown location. The accounting firm PwC estimates the global box office may not return to pre-Covid levels until 2030.
The downtown movie theatre location has a long track record of starts and stops. The 639 Main Street address debuted as the home of the now-defunct General Cinemas in 1987. According to The Buffalo News, which was first to report on AMC's decision to not renew its lease, that theatre closed in 1998. It was followed by the short-lived Angelica Film Center before seeing new life as a Dipson movie complex from 2000 to 2014.
