- Over three dozen Regal Cinemas locations in the US are expected to close.
- Parent company Cineworld said it plans to reject their leases next month.
- Cineworld filed for Chapter 11 bankruptcy in September.
Thirty-nine Regal theaters in the US are set to close — on top of a dozen that have already been shuttered — after parent company Cineworld announced it was filing for Chapter 11 bankruptcy in September.
Cineworld detailed the plan to reject the leases starting February 15 in a new bankruptcy filing on Tuesday. Regal is the second-largest cinema chain in the US, behind AMC, with over 500 theaters.
The company's plan to close locations during its bankruptcy is fairly routine. The Chapter 11 process makes it easier for companies to walk away from leases without incurring major penalties and to press landlords for better terms.
Cineworld told the court on Tuesday that its plan to reject the leases for some 39 locations would help it save $22 million a year and that it is still working with landlords to preserve other theaters.
"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 the filing.
An attorney for Cineworld did not immediately respond to Insider's request for comment on Wednesday afternoon.
Cineworld filed for bankruptcy at a time when the larger theatrical industry is struggling to fully rebound from the pandemic. The North American box office hit $7.4 billion in 2022, according to Comscore, down from over $11 billion in 2019 and 2018.
Here's the full list of Regal Cinemas locations set to close in the US (in alphabetical order by state):
- Tikahtnu Stadium 16 Imax and RPX (Anchorage, AK)
- Metro Point (Costa Mesa, CA)
- Berkeley 7 (Berkeley, CA)
- Parkway Plaza Stadium 18 and Imax (El Cajon, CA)
- Escondido Stadium 16 and Imax (Escondido, CA)
- Hemet Cinema 12 (Hemet, CA)
- Sherman Oaks Galleria 16 (Los Angeles, CA)
- Yorda Linda and Imax (Yorba Linda, CA)
- Meadows Stadium 12 (Littleton, CO)
- SouthGlenn Stadium 14 (Centennial, CO)
- Shadowood 16 (Boba Raton, FL)
- South Beach Stadium 18 and Imax (Miami, FL)
- Keauhou Stadium 7 (Kailua-Kona, HI)
- Bolingbrook Stadium 12 (Bolingbrook, IL)
- Round Lake Beach Stadium 18 (Round Lake Beach, IL)
- Fenway Stadium 13 and RPX (Boston, MA)
- Bowie Stadium 14 (Bowie, MD)
- Rockville Center Stadium 13 (Rockville, MD)
- Brunswick 10 (Brunswick, ME)
- Beaver Creek Stadium 12 (Apex, NC)
- Omaha Stadium 16 (Omaha, NE)
- Concord 10 (Concord, NH)
- Hamilton Commons Stadium 14 (Landing, NJ)
- Pohatcong Stadium 12 (Phillipsburg, NJ)
- Santa Fe Stadium 14 (Santa Fe, NM)
- Village Square Stadium 18 (Las Vegas, NV)
- Elmwood Center 16 (Buffalo, NY)
- Ithaca Mall Stadium 14 (Ithaca, NY)
- Cortlandt Town Center (Mohegan Lake, NY)
- Union Square Stadium 14 (New York, NY)
- Greece Ridge Stadium 12 (Rochester, NY)
- Transit Center Stadium 18 and Imax (Williamsville, NY)
- Montrose Movies Stadium 12 (Akron, OH)
- Barn Plaza Stadium 14 (Doylestown, PA)
- Oaks Stadium 24 (Oaks, PA)
- Greenbrier Stadium 13 (Chesapeake, VA)
- Stonefield Stadium 14 and Imax (Charlottesville, VA)
- Meridian 16 (Seattle, WA)
- Gallery Place Stadium 14 (Washington, DC)
And here are the dozen that have already shuttered:
- Anaheim Hills 14 (Anaheim Hills, CA)
- Calabasas Stadium 6 (Calabasas, CA)
- Westpark 8 (Irvine, CA)
- Grow Canyon Stadium 6 (San Francisco, CA)
- Greenville Grande Stadium (Greenville, NC)
- Colonnade Stadium 14 (Las Vegas, NV)
- Middleburg Town Square Stadium 16 (Cleveland, OH)
- Sherwood Stadium 10 (Portland, OR)
- Richland Crossing Stadium (Quakertown, PA)
- Amarillo Star Stadium 14 (Amarillo, TX)
- Parkway Plaza Stadium 12 (Tukwila, WA)