[Carmike Plans to Sell Long-Standing Villa Theatre]
Enterprise, 28 May 2001
Columbus, Georgia-based Carmike Cinemas Inc. plans to sell the long-standing Villa Theatre at 3092 So. Highland Dr., Salt Lake City this week.
Carmike, which filed for chapter 11 bankruptcy last year, plans to sell the cinema to businessman Edmond Simantob for $2.4 million. Simantob's Utah holdings include Simantov Oriental Rug Gallery and the Felt Building in which it is located at 341 S. Main in downtown Salt Lake.
Should there be any competing offers, they will be considered May 30 in the New York City offices of Carmike's bankruptcy counsel. A hearing to approve any sale will be held the following day.