Palace Amusement Company (1921) Limited (PAL) has advised that two of its locations, Palace Cineplex in St Andrew and Palace Multiplex in St James, will be closed effective today, September 30, 2020.
In an advisory posted on the Jamaica Stock Exchange, the company said the impact of the COVID-19 pandemic and the continued restrictions placed on operations in the entertainment industry were continuing to have a negative effect.
The statement attributed to directors and management said: “Despite the best efforts of management to minimise overheads by way of, inter alia negotiating with landlords, utilising fewer screens to minimise electricity cost, and staff rotation, there are various costs that are unavoidable whether or not the cinemas are operating;
“The management will continue to closely monitor conditions and will advise accordingly as to any new developments.”– Palace Amusement
“Despite having implemented international standards to make the cinemas a safe space for patrons and employees, and offering reduced rates, attendance at the cinemas continues to be severely impacted by the fluctuation in curfew hours and the spike in community spread of the coronavirus.”
Management stated that operations at Palace Multiplex were previously negatively impacted by the Zone of Special Operation and states of emergency in St James and the pandemic has far worsened the situation.
They said, “As such, performance at these two locations has been particularly severely affected. Palace Cineplex has also suffered especially grave repercussions with attendance at zero on some occasions.
“Therefore after careful consideration, the decision was taken to close both Palace Cineplex and Palace Multiplex effective Wednesday, September 30, 2020. The management will continue to closely monitor conditions and will advise accordingly as to any new developments.”
Early in September the company had given notice of its receipt of approval for a drive-through cinema in Kingston.