Look Dine-In Cinemas to Reopen Former iPic Theater in Pasadena

The former iPic movie theater in Pasadena will reopen in early December under the Look Dine-In Cinemas brand, months after the Florida-based iPic chain filed for Chapter 11 bankruptcy protection. The deal gives the Dallas-based Look a foothold in a market it exited earlier this year, and it gives Pasadena a dine-in theater back.

Look executives started negotiating with the former iPic owners on the day the Pasadena theater closed, said Brian Schultz, chief executive of Look Dine-In Cinemas. The talks ran for months.

"This is a special location, a special theater," Schultz said in an interview. "It's just really important to this community, which is a very creative, close community."

Why did iPic lose the theater?

iPic, based in Boca Raton, Fla., filed for Chapter 11 earlier this year and cited "lasting" changes in moviegoer behavior after the pandemic, plus the rise of streaming, as reasons for the filing. The chain operated 13 locations across the U.S., including Pasadena and Westwood.

Look has faced its own pressure. In February, the chain abruptly closed three Southern California locations. Schultz attributed the closures to a failure to reach an agreement with the landlord controlling the master lease for the trio of theaters.

"As part of the COVID recovery, the industry is in a different spot," he said. "We would have loved to keep those locations, but it wasn't economical to do so."

The landlord of the former iPic theater in Pasadena, by contrast, understood the financial realities of the post-pandemic theatrical recovery, Schultz said. He declined to comment on the terms of the lease with Perform Properties, owner of the One Colorado shopping center.

"One Colorado has long been a premier destination in the heart of Old Pasadena," Mark Ross, senior vice president and head of retail leasing at Perform Properties, said in a statement. "The cinema has been part of that experience. We're excited to welcome Look and add another vibrant experience for the Pasadena community to enjoy."

What does the reopening change for the location?

Look plans to restore and renovate the six-screen theater before reopening. The work includes new sound systems and laser projection technology. The Pasadena site, which already has a bar lounge, will carry a more upscale menu than other Look locations, with more intimate service.

Schultz said the company has begun speaking with community members to gather ideas on how to differentiate the Pasadena cinema from the rest of the chain. Look has hired the location's longtime general manager and at least 25 hourly employees who previously worked there.

"We plan to be there for a long period of time and really make this the shining jewel of the market," Schultz said.

Does the box office support the bet?

The reopening lands in a stronger theatrical market. This year the domestic box office has posted a sharp turnaround, driven by blockbusters including Sony Pictures' "Spider-Man: Brand New Day" and Universal Pictures' "The Odyssey," with unexpected boosts from Focus Features' "Obsession" and A24's "Backrooms."

As of Nov. 8, the domestic box office stood at roughly $8.63 billion, up 20.6% from the same point last year, according to Rentrak data. The total still trails pre-pandemic 2019.

For Look, the Pasadena reopening is a test of whether premium dine-in exhibition can expand while the recovery remains incomplete.