After months of negotiations Ballarat’s iconic Regent Cinema has been saved.
The theatre dramatically shut in late June with more than 20 people put out of work and nearby CBD businesses feeling the pinch.
Liquidator Justin Howlett of local firm SMB Advisory says the Palace Cinema Group were the successful purchaser and were also the landlords preferred tenant following negotiations with 16 interested parties.
Palace, who are based in Melbourne, operate 25 cinemas nationally.
“The Regent Cinema is a cherished community icon, and its avid audience perfectly aligns with our passion for sharing great cinema experiences,” said Benjamin Zeccola, CEO of Palace Cinemas.
“We are thrilled to bring the Palace touch to this iconic venue while ensuring we save and loyally serve what locals love about it most.” he said.
The re-opening is set for October three as Palace management build a team from the ground up.
