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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."
CINEWORLD GROUP PLC
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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