The former Frank’s Cinema, located at 1614 S. Main St. in Blacksburg, has a new owner for the third time in five years.
B&B Theatres, based in Liberty, Mo., has assumed ownership and operations of the 11-screen facility and thus has established the company’s first presence in the commonwealth.
In a statement earlier this week, the company said operations will resume immediately and in time for the Christmas Day opening of Wonder Woman 1984. The company said plans to assume control of the attached bowling lanes, arcade, and restaurant in early 2021 are in the works, along with a few branding and aesthetic updates to better align the facility with the B&B standard.
The Frank Theatres group, the original owner of the facility, filed for Chapter 11 Bankruptcy two years ago, and the theatre’s doors were shuttered. Cinergy Entertainment took over operations a short time later before Paragon Theaters, a Florida-based company, assumed management. Paragon then sold the rights to B&B earlier this month.
The 60,000-square-foot complex originally opened in January 2017 and was an anchor for the First and Main Shopping Center. Frank’s also had operated a bowling alley and a restaurant, which has since become independent of the theatre.
Founded in 1924, B&B Theatres is the eighth-largest theater chain in the United States, operating 400 screens at 50 locations in Florida, Iowa, Kansas, Missouri, Mississippi, Oklahoma, Texas and now Virginia.