NORFOLK, Va. (WAVY) — A beloved Norfolk staple has fallen victim to the coronavirus pandemic.
Cinemark 18 located inside Military Circle Mall is now listed as “permanently closed” by the company.
A spokesperson from Norfolk Economic Development Authority (EDA) told WAVY News 10’s Brett Hall that the lease for the Cinemark location was due to expire in 2025.
Cinemark didn’t end the lease, but they were, and remain in default under their original lease agreement leading city officials to send Cinemark a termination of possession, without termination of the lease.
The spokesperson also stated that although Cinemark hasn’t notified the Norfolk EDA of its intentions, it has already “removed signage and other personal property from the location.”
Officials from the Norfolk EDA say they have “engaged counsel” on how to move forward regarding the latest developments.
Back in May of 2020, the EDA announced that it had purchased the entire mall and surrounding parcels at a price of $11 million.
Since the purchase was made by the EDA, no money from the city’s general fund was used. Rather, the EDA used revenue bonds to pay for the land, which is defined as “a municipal bond supported by the revenue from a specific project, such as a toll bridge, highway or local stadium,” according to a definition from Investopedia.
A Cinemark representative confirmed the latest updates Monday, citing the ongoing pandemic as the reason for the closure. It is the latest victim of the COVID-19 pandemic that has forced movie theatre chains across the country to close most of their locations.
“This closure is normal course of business and the result of the careful and ongoing review of our theatre fleet, particularly in light of the impact of COVID-19,” said the representative.
Two Cinemark locations in Hampton Roads remain: in Newport News and Chesapeake.