Amid continued financial struggles, a slew of Regal Cinemas theaters will permanently close in Southern California this year.
Across the U.S., nearly 40 locations will be closing in total. The news comes after parent companythis past September.
According to a U.S. Bankruptcy Court filing, the company plans to reject the leases of 39 locations, including six in Southern California.
Regal Cinemas is the second-largest theater chain in the U.S., following AMC Theaters,Cineworld operates 747 locations across 10 countries, with about 500 theaters in the U.S.
The Southern California locations closing are:
-Sherman Oaks Galleria 16, Los Angeles
-Metro Point, Costa Mesa
-Yorba Linda & IMAX, Yorba Linda
-Hemet Cinema 12, Hemet
-Parkway Plaza Stadium 18 & IMAX, El Cajon
-Escondido Stadium 16 & IMAX, Escondido, Calif.
Other theaters closing across the country:
-Berkeley 7, Berkeley, Calif.
-Montrose Movies Stadium 12, Akron, Ohio
-Greenbrier Stadium 13, Chesapeake, Va.
-Transit Center Stadium 18 & IMAX, Williamsville, NY
-Barn Plaza Stadium 14, Doylestown, Pa.
-Rockville Center Stadium 13, Rockville, MD
-Oaks Stadium 24, Oaks, Pa.
-Elmwood Center 16, Buffalo NY
-Pohatcong Stadium 12, Phillipsburg, New Jersey
-Round Lake Beach Stadium 18, Round Lake Beach, Ill.
-Shadowood 16, Boca Raton, Fla.
-South Beach Stadium 18 & IMAX, Miami, Fla.
-Santa Fe Stadium 14, Santa Fe, NM
-Ithaca Mall Stadium 14, Ithaca, NY
-Village Square Stadium 18, Las Vegas, Nevada
-Cortlandt Town Center, Michigan Lake, NY
-Union Square Stadium 14, New York, NY
-Meadows Stadium 12, Littleton, Colo.
-Omaha Stadium 16, Omaha, Nebraska
-Gallery Place Stadium 14, Washington, D.C.
-SouthGlenn Stadium 14, Centennial, Colo.
-Brunswick 10, Brunswick, Maine
-Bowie Stadium 14, Bowie, MD
-Concord 10, Concord, New Hampshire
-Hamilton Commons Stadium 14, Mays Landing, New Jersey
-Greece Ridge Stadium 12, Rochester, NY
-Bolingbrook Stadium 12, Bolingbrook, Ill.
-Keauhou Stadium, Kailua Kona, Hawaii
-Beaver Creek Stadium 12, Apex, North Carolina
-Fenway Stadium 13 & RPX, Boston, Mass.
-Meridian 16, Seattle, Wash.
-Stonefield Stadium 14 & IMAX, Charlottesville, Va.
-Tikahtnu Stadium 16 IMAX & RPX, Anchorage, Alaska
The closures arrive on the heels of what the company says is a massive decline in the domestic box office during the COVID-19 pandemic. According to the bankruptcy filing, the monthly rent per theater increased by nearly 30% from 2019 to 2022.
“In total, the Debtors estimate that rejecting the Leases will save their estates approximately $22 million annually,” the document states.
The company recorded a loss of $3 billion in 2020 and a $708.3 million loss before tax in 2021, reported Variety. The company’s net debt, excluding lease liabilities, was $4.84 billion.
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