The Clintonia Eagle Theater in Clinton has closed its doors.

In a recent Facebook post, theater ownership announced it will be closing its Robinson and Streator locations, in addition to Clinton. They cite the COVID-19 pandemic and the post-COVID economy, and its impacts on the film industry, as the main reasons for the closure. 

Owner Eric Gubelman indicates that for more than two years, it’s been clear that any real revival would require recapitalization—an honest reckoning with the fact that the old debt structures no longer matched the realities of the business.
 
Gubelman hopes this will not be the end of the story. Six months ago, he assumed any attempt at revival would mean negotiating with multiple creditors, a maze of competing interests, and very little daylight. Due to the foreclosure process, there may soon be a single bank, a single decision-maker, and a clean opportunity to move the building off the books and forward into something new.
Their investor has indicated a willingness to participate in that process if his prerequisite project clears its final hurdles.
 
Ownership is open to the possibility of another entrepreneur, theater group, or other external buyer purchasing the property from them.