Regal Cinemas closing 39 US movie theaters following parent company Cineworld's bankruptcy filing
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Regal Cinemas is preparing to close 39 movie theaters around the U.S. in mid-February, according to a new document filed in bankruptcy court this week by its U.K. parent company Cineworld.
The filing says by rejecting the leases starting Feb. 15, "the Debtors estimate…. [it] will save their estates approximately $22 million annually."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CNNWQ | CINEWORLD GROUP PLC | 0.04705 | -0.00 | -4.76% |
Cineworld, which filed for bankruptcy in September, wrote that its "businesses have been acutely impacted by the global spread of COVID-19 and its attendant consequences, including a decline in cinema attendance, a disrupted film release and production schedule, and a rise in at home entertainment alternatives."
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People visit a Regal Cinemas theater in New York City. (Susannah Ireland/AFP via Getty Images / Getty Images) The 39 theaters set to close are: Alaska: Tikahtnu Stadium 16 IMAX & RPX, Anchorage California: Berkeley 7, Berkeley Parkway Plaza Stadium 18 & IMAX, Cajon Metro Point, Costa Mesa Escondido Stadium 16 & IMAX, Escondido Hemet Cinema 12, Hemet Sherman Oaks Galleria 16, Los Angeles Yorba Linda & IMAX, Yorba Linda Colorado: Meadows Stadium 12, Littleton SouthGlenn Stadium 14, Centennial Florida: Shadowood 16, Boca Raton South Beach Stadium 18 & IMAX, Miami The Regal Cinemas Union Square location in New York City, one of the 39 theaters set to close. (Lev Radin/Pacific Press/LightRocket via Getty Images / Getty Images) Hawaii: Keauhou Stadium 7, Kona Illinois: Bolingbrook Stadium 12, Bolingbrook Round Lake Beach Stadium 18, Round Lake Beach Maine: Brunswick 10, Brunswick Maryland: Bowie Stadium 14, Bowie Rockville Center Stadium 13, Rockville Massachusetts: Fenway Stadium 13 & RPX, Boston NEW ‘GOONIES’ HOUSE OWNER DETAILS PLANS FOR PROPERTY, HOW HE PULLED OFF $1.65M PURCHASE Nebraska: Omaha Stadium 16, Omaha Nevada: Village Square Stadium 18, Las Vegas New Hampshire: Concord 10, Concord New Jersey: Hamilton Commons Stadium 14, Mays Landing Pohatcong Stadium 12, Phillipsburg A Regal Cinemas theater in Irvine, California, that will remain open while seven others are set to close across the state. (AaronP/Bauer-Griffin/GC Images / Getty Images) New Mexico: Santa Fe Stadium 14, Santa Fe New York: Elmwood Center 16, Buffalo Ithaca Mall Stadium 14, Ithaca Cortlandt Town Center, Mohegan Lake Union Square Stadium 14, New York Greece Ridge Stadium 12, Rochester Transit Center Stadium 18 & IMAX, Williamsville North Carolina: Beaver Creek Stadium 12, Apex Ohio: Montrose Movies Stadium 12, Akron Pennsylvania: Barn Plaza Stadium 14, Doylestown Oaks Stadium 24, Oaks Virginia: Stonefield Stadium 14 & IMAX, Charlottesville Greenbrier Stadium 13, Chesapeake Washington: Meridian 16, Seattle Washington, D.C.: Gallery Place Stadium 14, Washington, D.C. — ‘AVATAR: THE WAY OF WATER’ SURPASSES ‘SPIDER-MAN: NO WAY HOME’ AT THE BOX OFFICE AT $1.92 BILLION Regal, as of April 2022, said it "operates one of the largest and most geographically diverse theater circuits in the United States, consisting of 6,787 screens in 505 theaters in 42 states along with American Samoa, the District of Columbia, Guam and Saipan." Source: Read Full Article
