RICHMOND, Texas — An iconic movie theater in Richmond, Texas is once again changing hands.
The Regal Grand Parkway, formerly known as the Palladium, now has a message listed on its website that it has closed. Regal bought the location from San Antonio-based Santikos back in 2017. Now, Cinemark is taking over the theater.
Flyers posted on the theater's windows say it will reopen on August 1.
Regal's parent company, Cineworld, has filed for Chapter 11 bankruptcy. Former Aramark CEO Eric Foss is expected to oversee the company's reorganization. The reorganization plan was approved by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division in late June.