It’s official. MovieTowne Chaguanas will be closed permanently, leaving only the Port-of-Spain and San Fernando branches.
The news broke this morning, via a brief statement issued by MovieTowne Owner, Derek Chin, who said after many weeks of intense negotiations with the landlord of Price Plaza Shopping Mall, both parties could not agree on a resolution.
Chin said as a result, MovieTowne decided to close down permanently and to remove its assets and presence from the mall.
The owner apologised to all the Central and Chaguanas patrons who supported his company for the last 10 years and added that they will look at alternative possibilities once the COVID-19 pandemic is no more.
Last week, Chin said he told the landlords of Price Plaza that he could no longer afford what was being charged and asked for an adjustment on the rent.
He was hoping for a positive outcome.
Chin reopened his other cinemas last Tuesday, after the green light was given by the Prime Minister, for operating at 50% capacity.
The full text of the statement follows…
STATEMENT BY MOVIETOWNE OWNER, DEREK CHIN.
After many weeks of intense negotiations with our landlord we have been unable to resolve our status at MT Chaguanas. As a result MT has made a final decision to close down permanently and to remove its assets and presence from Price Plaza Mall.
We wish to say sorry to all our Central and Chaguanas patrons who have supported us over the last 10 years but can assure you, we will be looking at alternative possibilities once the COVID virus issue is minimized.
Thank you again and please continue to support us at our other two branches at C3 Mall in South, and MovieTowne Mall in Port of Spain.