A local economic expert is weighing in on the future of the Quincy Mall. This comes after Cullinan Properties announced AMC Theater in the mall would be closing early next month.
Bergner’s and Sears closed earlier this year and Finish Line in the mall closed just last week. Quincy University Professor of Accounting and Finance Mitch Ellison says malls are losing business all across the country.
“The big box stores are closing all around,” said Ellison. “A lot of that has moved to Amazon.”
“It takes a lot of money to run two locations,” said Ellison.
Bloomberg reports movie theater attendance dropped to a 25 year low in 2017. Attendance rose slightly this year but Bloomberg points out streaming services like Netflix and HBO Go are keeping people from venturing out to the theaters.
“The mall is going to have to attract new clients and the best way to do that is to lower rental rates,” said Ellison.
Ellison thinks the space would be conducive for an office or a gym.
“The floor is a little bit challenging in a theater so it might take a little more money to retrofit that for a different purpose,” said Ellison.
Either way, movie-goers say they’re sad to see it go.
“I very seldom come out anymore,” said Quincy resident Bonnie Perrine. “There’s just nowhere to go. I did shop at JCPenny and now that is gone. The movie really surprises me. I think it’s an asset.”
“I hope that maybe Quincy can come together to work harder to get more things here to bring more people to Quincy,” said Kris McCaskill of Clayton, Illinois.
An employee at the mall movie theater says the last day will be January 7. That has not been confirmed by AMC or the mall.
The AMC theaters website only has one movie listing past January 2.
EDITOR’S NOTE: An earlier version of this story stated that “Cullinan Properties decided to close the movie theater,” however the decision to close the theater was made by AMC.