St. Louis-based Wehrenbeg Theatres to remain family-owned

posted by CSWalczak on March 21, 2008 at 7:40 am

According to this article in the St. Louis Business Journal, the 102-year-old Wehrenberg Theatre operation, the oldest family-owned theater chain in the United States, is being withdrawn from the market as available for sale. Apparently, no acceptable offers appeared to be forthcoming in the current economic climate.

As reported first in the St. Louis Business Journal in December, Wehrenberg, the country’s oldest family-owned and operated theater chain, was looking for a buyer for its 102-year-old theater operations. The company hired UBS Investment Bank to lead the search, but potential buyers were unable to make an offer that reflected the full value of Wehrenberg, Krueger said in a statement.

“I concluded the best action for our company is to be proactive to determine our own future,” Krueger said in a statement.