Regal Cinemas is set to close 39 more theaters as the chain continues to crumble amid uncertainties for the industry’s future. The new closings join 12 already folded locations after parent company Cineworld filed for bankruptcy in September. Regal is the second largest movie theater chain in the country, following AMC, but it has struggled in recent years from the pandemic and as viewer habits shift to streaming. The latest move will save the company $22 million as it works to maintain other locations, Cineworld told a court in a new bankruptcy filing Tuesday. As of Thursday, Regal Cinemas’ website says the company runs 505 theaters across the U.S. in 42 states.
Read it at Business Insider
