New Mexico theater desperately needs manager
SOCORRO, NM — The city is desperately looking for someone to take over management of its historic Loma Theatre. The bank which owns the building has even offered the theater rent free along with other incentives so far without success. The theater is due to close October 23rd.
For the past 16 years, the single-screen cinema has been operated by Trans-Lux Theatres. As profits declined, the bank cut the rent in half from $1,400 to $700. Recently it cut the rent in half again from $700 to $350. Trans-Lux’s assets were acquired by Storyteller Theatres Corp. earlier this year, which decided to terminate its lease.
Storyteller says the theater has lost $10,000 through July and will wind up losing $15,000 by year’s end. The company is trying to stem its losses.
As the only movie theater in the area, it is important to the economy of this city of 8,900 people.
Anyone interested in running the Loma Theater should contact Holm
Bursum III, president of First State Bank, at 575-835-8250.