According to the statement, the decision comes after the Pálás team spent months working with all relevant parties, including Screen Ireland, the Western Development Commission, Galway City Council, the Department of Tourism, Culture, Arts, Gaeltacht, Sport, and Media, in an attempt to save the movie theatre.
The Light House Cinema Group issued a statement saying, "Unfortunately, at this time, no viable alternative funding solution has been identified and this leaves us with no option but to close the doors."
In order to provide Galway residents and those in the surrounding areas with access to an arthouse cinema and cultural venue where independent films and a range of events might be enjoyed, it invested €1.5 million in Pálás Cinema in 2018.
Since then, Pálás has supported local artists and filmmakers, presented festival events, Q&A sessions, and screenings at local schools, bringing 3,000 independent films to Galway audiences.
"The Pálás team is very proud of these achievements, of the cultural partnerships that have been forged, the loyal audience that has been fostered and the incredible group of people that have worked tirelessly at Pálás Cinema to help fulfil its mission," the company stated.
It is with deep regret that after seven years of trading, Pálás will be closing its doors at the end of February 2025.
— Pálás Cinema (@PalasGalway) December 18, 2024
To many, Pálás is more than just a cinema and we have loved being a part of the community. pic.twitter.com/fytPdJeWaW
It did, however, add that the movie theater's financial status is "stark" and that it is not possible to continue operating at a loss.
"The Light House Group has had operating losses of approximately €1.8 million since investing €1.5 million in the theatre, and it is currently losing over €250,000 annually to stay open.
"Rising costs, the impact of Covid and the oversaturation of commercial cinemas in the Galway area have all contributed to the situation that is faced today," stated the organisation.
By the end of February, the Pálás team promised to help the building's owners, Galway City Council, transfer ownership in a smooth and orderly manner.
The Light House Group stated that it understands the impact this decision will have on the Pálás team and is offering them all the support they need at this trying moment.
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