Frank Theatres in Bayonne, viewed in a 2012 document photo. (Frank Theatres southern Cove stadion in Bayonne, Friday, might 11, 2012. Reena rose Sibayan | The Jersey journal )
A movie theatre chain with 4 locations in new Jersey -- and a big entertainment complex planned close to Princeton -- has actually filed because that bankruptcy.
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Frank Theatres, based in Jupiter, Florida, filed because that Chapter 11 bankruptcy protection under 4 entities: candid Entertainment Companies, candid Theatres Management, candid Investments and also the Rio mall shopping center in Rio Grande. All filings to be based in the U.S. Bankruptcy Court in the southerly District of Florida and made in between June and September.
According to its website, open minded Theatres operates two cinemas in brand-new Jersey; the Rio stadion 12 at the Rio Mall in Cape may County, and South Cove stadion 12 in Bayonne. The firm also own the Rio Mall.
Other open minded Theatres in brand-new Jersey encompass the Tilton 8 in Northfield and also the Towne stadium 16 in Egg port Township. Local radio statio 107.3 report a sign declaring the Tilton cinema closed for technical troubles had been posted to the door due to the fact that last week, and also phone calls to the cinema walk unanswered. A representative at the Egg harbor Township theater stated they were open.
It was not automatically clear why the theaters to be not detailed on the this firm website with the others.
Documents list assets at the Rio Mall in between $1 and $10 million, and also between $100,000 and also $500,000 at the Tilton theater. Both have actually liabilities in between $1 and also $10 million.
The three other entities noted assets between $10 and also $50 million, and two have actually liabilities in the exact same range. One entity, candid Theatres Management, LLC, only has $50,000 come $100,000 in liabilities.
The firm was expected to open up a 60,000-square-foot entertainment complex with 11-screens, an IMAX theater, a 12-lane bowling alley and also a sports bar in ~ the Montgomery Promenade in Somerset County.
Frank Theatres operates other cinemas in Florida, Georgia, Pennsylvania, Tennessee, north Carolina, southern Carolina, Virginia and West Virginia.
The filings display the agency is 3 months behind on rent in ~ its Northfield property, owing an ext than $700,000 come Tilton Properties llc for June, July and August.
Frank Investments, Inc., owes some taxes in the state, listing $330,751 to the Egg Harbor taxes Collector, $19,252 to the City that Absecon taxation Office, $10,412 to the City the Cape might Tax Office and also $5,764 come City the Ventnor taxation Office.
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