Reading To Shutter Gaslamp Stadium 15
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Reading International is bailing out of the Gaslamp Quarter's cinema market. The firm reports in an SEC filing that it plans to surrender its lease for Gaslamp Stadium 15 at 701 5th Ave after Jan. 15 of next year, paying an early termination fee to the landlord of $1M. “It is our intention to surrender that lease as the cinema is currently unprofitable,” officials state in documents. It's unclear if another cinema operator will fill the void at this time. In May, we reported that Reading was renovating its shuttered Reading International Carmel Mountain 12 off Carmel Mountain Road and transforming it to its Angelika Film Center luxury brand.