 The new ownership did not have the same elite relationships with the top entertainers as Bloom had, so it was closed in December 1993.The building caught fire on April 18, 1997, damaging much of the backstage area, though by this time plans had already been made for its demolition.The theater was ultimately demolished to make way for the Circle Star Center, a complex containing two four-story office buildings and a small hotel, since 2015 or 2014 Softbank owns the buildings and uses them as offices.