Citing Increased Competition, Owners Close Fallbrook Mall’s Movie Theater

General Cinema Corp. closed its 10-screen theater complex at the Fallbrook Mall on Thursday as part of a nationwide cutback, a company spokesman said.

The theater complex, which opened in December 1989, shut down after Thursday night’s screenings. Officials said it was not known whether any of the 15 to 20 employees would be hired at other General Cinema theaters.

The overabundance of movie theaters across the nation prompted the move by General Corp.’s parent company, GC Cos., said Page Thompson, senior vice president of marketing for General Cinema.

“The number of screens has doubled over the past 10 years,” he said. “There are many markets where there are too many screens.”

The company has scaled back its operations in recent weeks, including closing three dozen theater complexes in Florida, Georgia and Texas. The chain now operates 900 screens at 110 locations in the United States.

The move comes after the company said in a quarterly report to the Securities and Exchange Commission that it was considering filing for bankruptcy. The report cited financial woes caused by intense competition and higher rent costs. Thompson declined comment on the possible bankruptcy.

A mall management spokesman did not return calls seeking comment.

Two theater chains, Georgia-based Carmike Cinemas Inc. and Newport Beach-based Edwards Theatre Circuit Inc., filed for Chapter 11 bankruptcy earlier this year.

Other mall tenants said the theater complex brought customers to their stores, and are sad to see it close.

“There was always a good amount of foot traffic here because of the theater,” said Kim Jung, owner of Fallbrook Cleaners.

General Cinema’s stock has fallen more than 80% since the start of the year. The stock closed Thursday at $3.06, up 13 cents.