For example, in Palm Beach County alone, six multi-screencinemas have shuttered within the past year. Others may bethreatened by Muvico's soon-to-open 20-screen house at CityPlace indowntown West Palm Beach.
Moreover, what is said to be the overscreening of America maygrow worse as excessive expansion undermines the financialstability of sizable exhibitors, say industry watchers.
"Theater owners who go bankrupt can cancel leases," Beth Azor,president of retail specialists Terranova Corp. in Miami, tellsGlobeSt.com. "Older multiplexes are often in shopping centers andthere could be a glut of hard-to-fill footage. We're talking aboutlarge spaces that would be costly to convert for say big-boxretailers." Azor has heard estimates of as much as $300,000 toconvert a typical multiplex.
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