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By Jordan Valinsky, CNN
1 minute read
Updated 11:15 AM EST, Fri January 20, 2023
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The struggle of movie theatres in an increasingly streaming world
02:31 - Source: CNNBusiness
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New York CNN —
Regal Cinemas is closing 39 more movie theaters across the United States.
The decision comes four months after its parent company Cineworld filed for Chapter 11 bankruptcy after the pandemic devastated the industry and public screenings.
In a filing this week, Cineworld said it is planning to reject leases for the 39 theaters beginning February 15, saving the company $22 million annually.
Cineworld is working with landlords to keep its other theaters open. Around 500 remain, after these closures and a previous round in September 2022 that shuttered 12 locations.
“The debtors are hopeful that these negotiations will lead to lease concessions and modifications that will obviate the need for rejection and enable additional theater sites to remain open,” Cineworld said in this week’s filing.
When Cineworld announced its decision to file for bankruptcy last year, the company said it wanted to shed debt. It expects filing for bankruptcy will “strengthen its balance sheet and provide the financial strength and flexibility to accelerate, and capitalize on, Cineworld’s strategy in the cinema industry.”
Regal Cinemas is the United States’ second-largest theater chain after AMC Theaters, which has 950 locations according to its website.
These are the locations Regal plans to close:
- Tikahtnu Stadium 16 in Anchorage, Alaska
- Metro Point in Costa Mesa, California
- Berkeley 7 in Berkeley, California
- Parkway Plaza Stadium 18 and Imax in El Cajon, California
- Escondido Stadium 16 and Imax in Escondido, California
- Hemet Cinema 12 in Hemet, California
- Sherman Oaks Galleria 16 in Los Angeles, California
- Yorba Linda and Imax in Yorba Linda, California
- Meadows Stadium 12 in Littleton, Colorado
- SouthGlenn Stadium 14 in Centennial, Colorado
- Shadowood 16 in Boca Raton, Florida
- South Beach Stadium 18 and Imax in Miami, Florida
- Keauhou Stadium 7 in Kailua-Kona, Hawaii
- Bolingbrook Stadium 12 in Bolingbrook, Illinois
- Round Lake Beach Stadium 18 in Round Lake Beach, Illinois
- Fenway Stadium 13 and RPX in Boston, Massachusetts
- Bowie Stadium 14 in Bowie, Maryland
- Rockville Center Stadium 13 in Rockville, Maryland
- Brunswick 10 in Brunswick, Maine
- Beaver Creek Stadium 12 in Apex, North Carolina
- Omaha Stadium 16 in Omaha, Nebraska
- Concord 10 in Concord, New Hampshire
- Hamilton Commons Stadium 14 in Landing, New Jersey
- Pohatcong Stadium 12 in Phillipsburg, New Jersey
- Santa Fe Stadium 14 in Santa Fe, New Mexico
- Village Square Stadium 18 in Las Vegas, Nevada
- Elmwood Center 16 in Buffalo, New York
- Ithaca Mall Stadium 14 in Ithaca, New York
- Cortlandt Town Center in Mohegan Lake, New York
- Union Square Stadium 14 in New York, New York
- Greece Ridge Stadium 12 in Rochester, New York
- Transit Center Stadium 18 and Imax in Williamsville, New York
- Montrose Movies Stadium 12 in Akron, Ohio
- Barn Plaza Stadium 14 in Doylestown, Pennsylvania
- Oaks Stadium 24 in Oaks, Pennsylvania
- Greenbrier Stadium 13 in Chesapeake, Virginia
- Stonefield Stadium 14 and Imax in Charlottesville, Virginia
- Meridian 16 in Seattle, Washington
- Gallery Place Stadium 14 in Washington, DC
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