In the midst of ongoing and complex litigation, Charles Cohen’s Landmark Theatres is facing a challenging period as a judge recently set an auction date for the chain and other properties. The lawsuit was initiated by lender Fortress Credit Corp. after Cohen’s real estate holding company defaulted on a $534 million loan secured by Landmark and other assets, including a design center, office tower, and hotel.
Despite the legal challenges, a spokesperson for Landmark Theatres stated that the company remains dedicated to its business and is optimistic about a favorable resolution to the ongoing litigation. The spokesperson highlighted that Landmark successfully navigated the pandemic and is now adapting to fewer film releases due to last year’s actors and writers strikes.
In an effort to support the longevity of the chain, Landmark Theatres continues to invest in brand building initiatives. These initiatives include revamped loyalty programs, food and beverage offerings, and programming options, which have resulted in annualized growth for the company. Additionally, the company is working on new builds with developers in major markets and renovating existing assets to enhance the overall customer experience.
Despite the uncertainty surrounding the litigation, Landmark Theatres remains committed to its mission of being a home for filmmakers and film lovers nationwide. The company’s dedication to its business and investment in brand building initiatives demonstrate its long-term commitment to the industry and its customers.
As Landmark Theatres navigates through the complexities of the legal proceedings, its focus on business continuity, brand building, and customer experience sets a solid foundation for the future. With ongoing investments in new builds and renovations, coupled with a commitment to filmmakers and film lovers, Landmark Theatres is poised to overcome the current challenges and emerge stronger in the ever-evolving entertainment landscape.