Spain’s Madrid, Barcelona IMAX theaters set to close

August 14, 2014 – 1:05 pm

The Olive Press reports:

SPAIN’S two biggest Imax cinemas are set to close after years of making losses.

The cinemas, in Madrid and Barcelona, are owned by Teatromax, which claims to have never made a profit.

Three high-resolution, giant-screen cinemas remain in Spain, located in Palma de Mallorca, Valencia and Leganes, near Madrid.

“We have held on against all odds until now, but we just can’t keep hoping things will improve,” Juan José Castelló, Teatromax CEO, told El Pais.

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