The AMC Citadel Mall 6 will be shuttered after the close of business on Sunday.
It will re-open after ownership is transferred on Monday.
Southeast Cinema Entertainment, an independent company based in Charlotte, has purchased the decades-old movie theater from AMC Entertainment.
It plans to demolish the venue after the summer tourists season has come to an end. The theater will continue to have its current staff through the summer months.
The new facility will feature 16 screens, stadium seating, and state-of-the-art digital technology. It will be modeled after the Ayrsley Grand Cinema (pictured above) in Charlotte, N.C., which is managed by Southeast Cinema.
Talks are also underway for installing an IMAX in the new facility The company plans to build two digital 3D auditoriums and two (maybe four) theaters devoted exclusively to arthouse cinema.
A timetable of the new construction project could not be obtained. Southeast Cinema also plans to acquire the projection equipment of the AMC Northwoods Cinema Mall 6 in North Charleston.
Southeast Cinema owns movie theaters in Virginia, North Carolina, and Hilton Head Island.