OLDS — A deal to sell Mayfair Cinema in Olds to potential new owners fell through, but current owner Tish Cassidy is not giving up.
She still plans to sell the business, this time through a real estate firm she believes will be more aggressive.
Cassidy confirmed conditional sale of the business July 5 during a celebration for the business’s 100th anniversary.
The deadline for the sale to go through was Aug. 1. Had it gone through, the new owners would have taken possession Sept. 1.
Cassidy and her husband Dean bought Mayfair Cinema in December 2022 from Louise Craig, who owned the theatre along with husband Jack Craig for more than 35 years.
Dean passed away last November. Ever since, Cassidy kept the business running, because she shares her husband’s passion for old movie theatres. But it just became too much.
During an interview with the Albertan, Cassidy was asked why the sale didn’t go ahead.
“Something to do with their immigration status meant that I had to own the business for three years before they could purchase,” she said. “Something on their end fell through and it didn't happen.”
Cassidy said she’s still determined to sell the business. She predicted it’ll go back on the market in about a month.
“I'm going to relist with a different agent. I'm going to go through a commercial real estate broker and relist,” she said.
Cassidy said the firm that had been handling the sale is a commercial realtor but “they weren't a broker like these guys are” and she believes the new company will market her business more aggressively.
“They're more business oriented than just the real estate end,” she said.
Cassidy is confident there are buyers out there who would be interested in owning a small town movie theatre.
“I would hope so,” she said. “I know other theatre owners, a few around Alberta especially, personally, and they all do very well, so it's still a good thing. So hopefully she falls into good hands still.”
Cassidy said while it’s on the market, the Mayfair Cinema will continue to show films.
“Definitely,” she said. “She's been going for 100 years, with the exception of COVID. I'm not going to be the one that closes her down.”
The Mountain View Film Group shows films there in the fall and spring seasons. Cassidy said they’ll be able to continue doing so.
“Even if the place did sell, that would be part of the commitment at this point, because I've agreed to them, so that would be passed on if the cinema did go to someone else,” she said.
“I love the film group,” Cassidy said. “They bring all the movies that I want to see. Not just the big, the big hits that are on the big screen, but they bring the other stuff in that that you might not have thought about seeing.”
