Amid continued fiscal struggles, a slew of Regal Cinemas theaters will completely shut in Southern California this yr.
across the U.S., well-nigh forty places can be closing in total. The news comes after mother or father company Cineworld filed for chapter this past September.
based on a U.S. chapter court submitting, the enterprise plans to reject the leases of 39 areas, together with six in Southern California.
Regal Cinemas is the second-biggest theater chain in the U.S., following AMC Theaters, according to variety. Cineworld operates 747 places throughout 10 nations, with about 500 theaters in the U.S.
The Southern California locations closing are:
-Sherman alright Galleria 16, los angeles-Metro factor, 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 videos Stadium 12, Akron, Ohio-Greenbrier Stadium 13, Chesapeake, Va.-Transit middle Stadium 18 & IMAX, Williamsville, the big apple-Barn Plaza Stadium 14, Doylestown, Pa.-Rockville core Stadium 13, Rockville, MD-alright Stadium 24, very well, Pa.-Elmwood core sixteen, Buffalo the big apple-Pohatcong Stadium 12, Phillipsburg, New Jersey-circular Lake beach Stadium 18, round Lake seaside, unwell.-Shadowood 16, Boca Raton, Fla.-South seaside Stadium 18 & IMAX, Miami, Fla.-Santa Fe Stadium 14, Santa Fe, NM-Ithaca Mall Stadium 14, Ithaca, big apple-Village rectangular Stadium 18, Las Vegas, Nevada-Cortlandt town middle, Michigan Lake, new york-Union rectangular Stadium 14, ny, big apple-Meadows Stadium 12, Littleton, Colo.-Omaha Stadium 16, Omaha, Nebraska-Gallery vicinity Stadium 14, Washington, D.C.-SouthGlenn Stadium 14, Centennial, Colo.-Brunswick 10, Brunswick, Maine-Bowie Stadium 14, Bowie, MD-harmony 10, concord, New Hampshire-Hami lton Commons Stadium 14, Mays touchdown, New Jersey-Greece Ridge Stadium 12, Rochester, ny-Bolingbrook Stadium 12, Bolingbrook, sick.-Keauhou Stadium, Kailua Kona, Hawaii-Beaver Creek Stadium 12, Apex, North Carolina-Fenway Stadium 13 & RPX, Boston, Mass.-Meridian sixteen, Seattle, Wash.-Stonefield Stadium 14 & IMAX, Charlottesville, Va.-Tikahtnu Stadium sixteen IMAX & RPX, Anchorage, Alaska
The closures arrive on the heels of what the enterprise says is a enormous decline within the home box workplace right through the COVID-19 pandemic. according to the bankruptcy filing, the month-to-month rent per theater elevated by means of pretty much 30% from 2019 to 2022.
"In total, the Debtors estimate that rejecting the Leases will keep their estates approximately $22 million annually," the document states.
The enterprise recorded a lack of $three billion in 2020 and a $708.three million loss earlier than tax in 2021, stated range. The business's net debt, with the exception of rent liabilities, become $4.eighty four billion.
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