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Frank Theatres dodges foreclosure: Business resumes until further …

As a result of the hearing in the Montgomery County Circuit Court, Judge Marc Long said Frank Theatres had been “wrongly ousted,” and later granted Frank Theatres an emergency injunction — meaning that Blacksburg APF Partners, who own First Main shopping center, are now mandated by the law to unchain the doors belonging to Cinebowl and allow workers back into the facility. This includes returning the sign that was taken Tuesday morning without prior warning. 

According to Mallory Joy, marketing assistant for Frank Entertainment Group, regular business is set to resume today at 4 p.m. The group’s press release reads as follows:

“Frank Theatres CineBowl Grille will reopen its doors Friday afternoon at 4 PM following a three-day lockdown from the First Main property owners. Members of the community will be able to enjoy all that the CineBowl Grille has to offer, including its high quality restaurant and bar, IMAX theatre, and luxury bowling lanes. Previously planned parties and events will be hosted as scheduled. Frank Theatres is excited to resume its partnership with the community in providing the best entertainment for all of Blacksburg and the surrounding areas. Frank Entertainment Group is thankful for the patience and the compassion of the community throughout this time. The company hopes to swiftly reach an agreement with APF Properties in order to continue their long-lasting presence in the First Main shopping center.”

As for Cinergy, the rival entertainment group that Blacksburg APF Partners announced as new tenants of the property, what happens next?

“We’ll have to see how this plays out but we’re confident we have a great new operator,”  Jeff Mitchell of Blacksburg APF Partners said to the Roanoke Times.

The next hearing is May 19, where Blacksburg APF Partners plan to claim the $450,000.01 unpaid rent and a $42,500 late payment fee.

Article source: http://www.collegiatetimes.com/news/frank-theatres-dodges-foreclosure-business-resumes-until-further-notice/article_90edd032-2c2d-11e7-82be-9b792644057c.html

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