Final curtain at Extreme Planet

If you had been planning a weekend trip to a movie At Extreme Planet, a meal at Bennigans, some frothy suds at La Taberna, some exercise at Sky Bowling or challenging your waist line at Baskin-Robbins, you would have been out of luck.

The entertainment complex that grew from a bicycle store to a multi million dollar operation, closed its doors without prior warning on Thursday January 10 leaving 150 employees without jobs and others being “re-located.”

Social networks were rife with rumors of staff “rioting” and speculation from “they are broke”, “undergoing surgery” “taken over” to “belly up”. Some opined that the owners “got what they deserved” based on controversies that surfaced in recent years, ranging from reported robberies and assaults in the multi-storied parking lot to the introduction atop the complex, of the giant advertising sign, labeled the “searchlight” by opponents Local residents complained its light kept them awake at night, and after multiple protests and the owners agreed to kill the advertising messages after 11 pm. Dissatisfied critics from as far away as Casco Viejo continued to complain, and others pointed out that Panama’s symbol of modernity could be seen from a passenger seat as planes flew into Tocumen. There were more rumbles when the center announced plans to build an overhead walkway from the Cinta Costera to Extreme Planet, taking advantage of public parking spaces on the coastal strip. The project was never finished but support platforms were built and staircases to nowhere.
Vincent Carretero , president of the company, Grupo Carretero on Friday, January 10 moved to quell speculation, announcing that the closure was to enable the remodeling of the site to maximize their "strategic position", on the east end of the coastal strip. It is planned to develop a Sky business and shopping center.

Balboa Avenue is one of the most desirable locations and property can fetch up to $5,000 a square meter , according to estimates given to Panama America by a well known architect, specializing in real estate appraisals.
Extreme Planet, at its peak housed a franchise restaurant Bennigan's, Baskin-Robbins, theaters (the first to introduced VIP), the bar La Taberna, Sky Bowling. And parking plant for more than 500 vehicles. In addition, there is Dunkin 'Donuts and sportswear store Dakley, which, according to Panama America so far remain operating.

A drive by early Saturday evening showed lights but no customers
Carter agreed that it was necessary to lay off about 150 employees, while others were relocated and administrative offices are kept running. "It was necessary because the construction will take about three years, but there is nothing of the rioting that has been discussed," he said.
Grupo Carretero was started in 1983 with a bicycle store and the Carretero Sport Bike Rally.
It expanded into the opening and subsequent remodeling of Extreme Planet, in which he had invested more than $ 100 million.