Edwards Gets Judge’s OK to Shut 6 Imax Theaters

Edwards Theatres Circuit Inc. has gained a bankruptcy judge’s approval to close six Imax theaters Aug. 1, including three in Southern California, the Newport Beach cinema operator said.

Edwards, which is reorganizing under bankruptcy protection, plans to close Imax screens in Irvine, Ontario, Valencia, Fresno, Houston and Boise, Idaho. Edwards said the Imax theaters did not make money, and the company intends to replace the large screens with standard movie screens.

Imax said the decision by bankruptcy Judge Lynne Riddle clears the way for it to file a $29-million claim against Edwards, which maintains it owes Imax nothing.

Edwards has shut down more than two dozen cinemas since early last year.

Edwards’ bankruptcy plan calls for the company to raise $56 million by selling a 51% stake to an investor group led by Denver billionaire Philip Anschutz.