Regal Cinemas to shut down two metro-area theaters in reorganization
Parent company Cineworld will shutter 39 Regal Cinemas theaters across the country, including two in Colorado, as part of a Chapter 11 bankruptcy reorganization.
The theaters being closed are on top of a dozen already shut down after the company’s bankruptcy filing in September, according to businessinsider.com.
The two theaters in the metro area are: Meadows Stadium 12, Littleton; and Southglenn Stadium 14, Centennial.
Movie theater operator Cineworld Group LLC filed for Chapter 11 bankruptcy protection in the U.S. as it deals with billions of dollars in debt and lower-than-expected attendance at screenings.
In October of 2019, Regal operated the second-largest theater circuit in the country, with over 7,200 screens in 549 theaters.
Cineworld told the court on Tuesday, according to Business Insider, 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 metro area’s 10 Regal Cinemas locations will be down to eight with the closures.
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