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UPDATED: Hope for Rosebud Cinema? Former Owner Might Take Control

Current owner said it's difficult to refinance or renew commercial loans in current environment.

It appears there might still be a chance to keep the Rosebud Cinema alive, at least for a while.

On Wednesday, the Journal Sentinel reported that AnchorBank plans to turn operation of the cinema over to Jay Hollis, who owned the theater from 1999 to 2007. AnchorBank holds the loan on the cinema.

The newspaper reported Tuesday that the Rosebud Cinema, which has served Wauwatosa under different names since 1931, will close in the first week of March.

Opened in 1931 as the Tosa Theater by Ross Baldwin, the theater at 6823 W. North Ave. was owned from 1940-99 by Marcus Cinemas. In 1999, the theater went to a sheriff’s auction, where it was purchased by Hollis. Hollis owned the theater until the summer of 2007, when the current owner, David Glazer, purchased it. The Rosebud celebrated its 80th birthday in 2011.

Glazer told the Journal Sentinel that falling property values have made it difficult to renew or refinance current lose.

What memories do you have of the Rosebud or the Tosa Theater? Share them with us in the comments.

Bren February 23, 2012 at 03:49 AM
I heard that someone involved in the operation of these theatres was a Milwaukee history buff. If true, perhaps that individual has some contacts that could help with preservation grants. I also hope that whoever takes over the theatres keeps that person on--to celebrate cultural history.
Tim Docter February 23, 2012 at 03:50 AM
I'm in. Now what? Set a time, let's move.
Ray Ray Johnson February 23, 2012 at 02:46 PM
Spoke with the ignorance of someone who's never applied for a business loan before.
C. Sanders February 23, 2012 at 04:07 PM
As a business owner, its easy to conclude that you are and will always be on the receiving end of a paycheck and have no idea what it takes, for a business owner, in this economy to keep a fool like you employed and paid. But, maybe that's why you're LEAVING TOSA SOON? Jobless are you?
CoffeeBeans March 09, 2012 at 11:53 PM
Just moved to Tosa area six months ago and already lost the two cool places (The Fish Store and now Rosebud) around the block. F for Wauwatosa.

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