TROY, Ala. (WSFA) - The show is over and the lights have gone out for a movie cinema visited for decades by Troy residents.
Thursday, Continental Cinemas, located on Highway 231 North, announced it is filing for Chapter 7 bankruptcy and will close its doors permanently.
J. Kaz Espy, an attorney representing the company, said Continental had not been profitable for several years and that the situation worsened as the pandemic forced theaters to close.
Espy said even as the cinema’s primary lender, Troy Bank & Trust, as well as the City of Troy, “took decisive and helpful actions in an attempt to alleviate the wave of lost revenue,” the financial strain ultimately became too much.
Continental had been in business since 1997.