Why did Kerasotes bail so quickly?
I have a chain question that no one has seemed to answer. Why did Kerasotes Theaters bail so quickly out of the Chicagoland market? It seems they were doing a great job, building good new theatres and renovating others. For instance, they did a great job rehabbing the Webster Place Theatre. That theatre used to be so run down but it became a good cinema again.
Kerasotes seemed to do a great job managing its cinemas. They seemed genuinely interested in the movie-going experience. Their Five Buck Club Card was a great idea (being able to see any movie that was out for more than two weeks for only $5.00).
What happened? Why did they sell to AMC?