Cinemark buyout of Rave Theaters could cause 54 layoffs
Dallas-based Rave Cinemas, which last month negotiated a $240 million sale of 32 of its 35 movie houses to Cinemark USA Inc. of Plano, confirmed Tuesday that it has announced the possible termination of 54 employees from its Dallas theater-support group because of the takeover.
A WARN notice was issued to the Texas Workforce Commission on Nov. 28, giving a Jan. 31 layoff date.
Rave spokesman Doug Willmarth said Cinemark has the option to hire the workers under the deal, which requires federal anti-trust approval. If there is no objection from authorities, the sale is expected to close in late January, he said.
As for rebranding the cinemas, Willmarth referred queries to Cinemark, whose spokeswoman did not immediately return a call.