Rialto closing its doors, will shift focus to art and independent film

Longtime owner Bill Peebles posted Monday on Facebook the theater will close for a short time because of his retirement and current market conditions.

He also pointed out fewer movies are showing in theaters since the pandemic, writing, "While the country was shut down for the pandemic, so was Hollywood. Thus, there is a hole in available product that is now hitting cinemas nationwide.

Yes, we just had a bunch of blockbusters hit the screen this summer, but most of those were completed prior to the pandemic and their release held or only editing changes were needed."

The final marquee change will occur on Sunday, August 28, at 1 p.m.

Final showings include:

"It is appropriate that the last scene in Rocky is in an old theatre and will be Rialto’s last movie for a while," Peebles wrote.

Peebles, who announced his retirement in July, said the Rialto will resume operations in the near future with a focus on art and independent films and special events.

"Retiring is one of the most difficult decisions I have had to make, but I know it is time," he wrote on Facebook. "I will truly miss our wonderful staff and fiercely loyal patrons."

Peebles ran the theater for more than 32 years, guiding it through its restoration.

"It is time to retire," Peebles said in July. "I am tired of being responsible for everything and it is time for someone else to take the theatre forward."

The search for a new owner is underway.

The Rialto, located at 1620 Glenwood Ave. in Raleigh, is the oldest movie theater in Raleigh and is "among the few cinemas that have been in continuous operation since opening in 1942," according to a post on its website.

In 1983, the space underwent renovations and became the Rialto Theatre.