The beloved indie movie theater, Ritz at the Bourse, will close later this month, the theater’s possession group launched on Sunday.
“We regret to inform you that the Ritz at the Bourse is closing. Thank you for your continued patronage and we look forward to serving you at the Ritz East and the Ritz Five,” Cohen Media Group acknowledged in an announcement obtained by the Philadelphia Inquirer.
The ultimate day to catch a movie at the theater, located at 400 Ranstead St., shall be Sunday, Jan. 26, The Inquirer critiques. The facility will close fully on Friday, Jan. 31.
Cohen Media Group did not say why the theater is closing. It’s two completely different Old City theaters, Ritz East and Ritz Five will keep open.
Ritz at the Bourse, a five-screen theater, is known for exhibiting unbiased choices and cult classics, like “Rocky Horror Picture Show,” as part of its “Midnight Madness” sequence.
Ramon L. Posel opened the theater in Old City in 1990. Posel then purchased the Ritz at the Bourse, Ritz East and Ritz Five to Landmark Theatres in 2007. That agency, which operates 51 theaters and 251 screens in 27 markets, was acquired in 2018 by CMG, a distribution and manufacturing agency owned by Charles S. Cohen, a precise property developer, and filmmaker.