BLACKSBURG, Va. (WDBJ7) Frank Theatres CineBowl and Grille is staying put in Blacksburg. The landlord will allow the theater to continue its business at First and Main in Blacksburg and stay out of court.
Both sides left the courtroom pleased with the decision. Just last month the theater workers were locked out of their building for not paying several months worth of rent.
Monday the judge agreed to dissolve a civil matter between the two because the financial concerns are settled.
"It's great to see the landlord and the tenant working so well together. I think the future looks bright," said Greg Habeeb, the attorney representing Frank Theatres.
"We're now back to the status quo," said Jeff Mitchell, representing Blacksburg APF Partners, the landlords.
It's a drastic change of tone since the last time Frank Theatres faced its landlord in court.
Last month, Blacksburg APF Partners attempted to evict the theater and reported a nearly half a million dollar debt in unpaid rent and fees.
Fast forward a month later, and about 670 thousand dollars in payments have been made on Frank Theatre's behalf to its landlord.
"We think the actions that have been taken are very positive and we think the tenant and its representatives are aggressively working to make sure this doesn't happen again," Mitchell said.
Attorneys for the landlord told the court there are non-financial issues that need to be worked out that are typical tenant-landlord problems.
The large total was paid with help from third party investors. In a previous hearing it was reported to the court that the business doesn't appear to be in a financial bind, it generated between 500 thousand and 900 thousand dollars in revenue monthly before the lock out.
"As long as we could figure out what the issues we'd be able to cure those issues. Working with the landlord over the last few weeks we've identified what those issues were. Folks worked very well together," Habeeb said.
An order signed today by the judge releases an 80 thousand dollar bond paid by Frank Theatres to go to next month's rent.
The landlord's attorneys will ask for the unlawful detainer action - the legal process that starts eviction, to also be thrown out.