Regal Cinemas parent Cineworld to file for bankruptcy

SamSpade
Store Manager
Store Manager
Posts: 1568
Joined: September 13th, 2015, 4:39 pm
Has thanked: 374 times
Been thanked: 57 times
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by SamSpade »

From other markets I know -
Tukwila, Wash. near the Southcenter Mall
This theater was probably struggling in recent history with the very nice AMC that opened about a decade ago inside the mall. I would imagine its main source of patrons had been parents that wanted to pick up/drop off at the theater door or folks that didn't want to take the 2 escalators up nor deal with parking at (busy) Southcenter.
Brian Lutz
Store Manager
Store Manager
Posts: 1425
Joined: March 1st, 2009, 5:51 pm
Location: Piedmont Triad, NC
Been thanked: 56 times
Contact:
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by Brian Lutz »

No word of any closures yet near where I live, but looking on Google shows reports of three closures in Orange County CA (Anaheim Hills, Calabasas and Irvine), as well as closures in Fresno, Greenville NC and Jacksonville FL. If I had to guess the most likely theaters to close around here would probably be the ones in Marysville and Everett Mall. The 6 screen theater at Alderwood might be a potential closure as well since it's close to a much larger AMC, but it does have recliner seating where the AMC does not. Bella Bottega in Redmond might also be a potential closure, but aside from the luxury iPic theater at Redmond Town Center (which was originally a Regal theater itself by way of Cineplex Odeon) it's the only theater in Redmond currently.

The Crossroads Theater in Bellevue was originally an Act III location as well, and still has a plaque near the door of theater 1 indicating that it was the first theater in Washington to be equipped with Dolby Digital sound in 1992.
reymann
Personnel Manager
Personnel Manager
Posts: 279
Joined: August 13th, 2014, 8:25 pm
Been thanked: 27 times
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by reymann »

The regal cinema at broadway faire in fresno closed on wednesday. The area has been deteriorating over the past decade and i'm wondering if they are trimming the unprofitable ones before they start divesting the other locations.
Bagels
Assistant Store Manager
Assistant Store Manager
Posts: 823
Joined: August 20th, 2018, 11:54 pm
Has thanked: 1 time
Been thanked: 12 times
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by Bagels »

The Regal Irvine Spectrum is one of the highest grossing movie theaters in the country (and in its early years, was the highest grossing). It’s a short drive from the Westpark location, but generally attracts moviegoers from throughout Los Angeles whereas Westpark catered to locals. The Spectrum completed one of the costliest renovations ever during Covid, whereas the Westpark location looks straight out of the 1990s. Not sure it’ll find a new home - AMC just completely overhauled a 5 screen theater literally a mile up the road.

The Spectrum location had four screens of the Woman King start between 10:00 and 10:30PM: one in RPX (poor man’s IMAX), one in 4DX, one in VIP (small auditorium with luxury recliners that have become common as standard seating elsewhere) and one standard (stadium seats with new leather seats that recline like an airplane). Looking at the seat maps, no tickets were sold for the RPX showing, only 6 for the VIP, 2 for the standard showing and about half of the 4DX.

Ouch.
Alpha8472
Posts: 3929
Joined: February 24th, 2009, 8:55 pm
Been thanked: 79 times
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by Alpha8472 »

I went to the movies recently and my local theater was really empty. There were only a handful of people in a huge multiplex. It obviously is due to many factors, buy I found none of the movies interesting except for the Rogue One re-release.
storewanderer
Posts: 14379
Joined: February 23rd, 2009, 3:54 pm
Has thanked: 2 times
Been thanked: 298 times
Contact:
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by storewanderer »

Bagels wrote: September 17th, 2022, 11:03 pm The Regal Irvine Spectrum is one of the highest grossing movie theaters in the country (and in its early years, was the highest grossing). It’s a short drive from the Westpark location, but generally attracts moviegoers from throughout Los Angeles whereas Westpark catered to locals. The Spectrum completed one of the costliest renovations ever during Covid, whereas the Westpark location looks straight out of the 1990s. Not sure it’ll find a new home - AMC just completely overhauled a 5 screen theater literally a mile up the road.

The Spectrum location had four screens of the Woman King start between 10:00 and 10:30PM: one in RPX (poor man’s IMAX), one in 4DX, one in VIP (small auditorium with luxury recliners that have become common as standard seating elsewhere) and one standard (stadium seats with new leather seats that recline like an airplane). Looking at the seat maps, no tickets were sold for the RPX showing, only 6 for the VIP, 2 for the standard showing and about half of the 4DX.

Ouch.
Customer traffic is slow everywhere this weekend. I've talked to people in some other areas and heard the same; my observation is food retailers are busy but that is about it. Even fast food places look less busy than usual. I think either people are ready for winter or people are low on money, the bills from back to school and Labor Day weekend piled up and people are staying home this weekend. Tahoe was the deadest I've seen since the COVID lockdowns. Looking at the folks walking around at Stateline very few were carrying shopping bags, far fewer than usual. Traffic is way off at the small shops in the tourist developments despite there being foot traffic, people are simply not buying so much merchandise. Food and the gas is eating up many people's budgets. Gas around Reno jumped .30-.50 in the past week and nobody has a clue why.
Alpha8472
Posts: 3929
Joined: February 24th, 2009, 8:55 pm
Been thanked: 79 times
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by Alpha8472 »

Gas also rose in the San Francisco Bay Area. Costco had gone as low as $4.74, but now most Costco gas stations are at $4.99 again.

Some stations are lower than Costco at $4.75 including Safeway.

Costco is no longer the lowest priced gas. Why should people wait in long lines, when there is cheaper gas at Exxon and other places?
BillyGr
Store Manager
Store Manager
Posts: 1578
Joined: October 5th, 2010, 7:33 pm
Been thanked: 58 times
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by BillyGr »

storewanderer wrote: September 18th, 2022, 1:52 am
Bagels wrote: September 17th, 2022, 11:03 pm The Regal Irvine Spectrum is one of the highest grossing movie theaters in the country (and in its early years, was the highest grossing). It’s a short drive from the Westpark location, but generally attracts moviegoers from throughout Los Angeles whereas Westpark catered to locals. The Spectrum completed one of the costliest renovations ever during Covid, whereas the Westpark location looks straight out of the 1990s. Not sure it’ll find a new home - AMC just completely overhauled a 5-screen theater literally a mile up the road.

The Spectrum location had four screens of the Woman King start between 10:00 and 10:30PM: one in RPX (poor man’s IMAX), one in 4DX, one in VIP (small auditorium with luxury recliners that have become common as standard seating elsewhere) and one standard (stadium seats with new leather seats that recline like an airplane). Looking at the seat maps, no tickets were sold for the RPX showing, only 6 for the VIP, 2 for the standard showing and about half of the 4DX.

Ouch.
Customer traffic is slow everywhere this weekend. I've talked to people in some other areas and heard the same; my observation is food retailers are busy but that is about it. Even fast-food places look less busy than usual. I think either people are ready for winter or people are low on money, the bills from back to school and Labor Day weekend piled up and people are staying home this weekend. Tahoe was the deadest I've seen since the COVID lockdowns. Looking at the folks walking around at Stateline very few were carrying shopping bags, far fewer than usual. Traffic is way off at the small shops in the tourist developments despite there being foot traffic, people are simply not buying so much merchandise. Food and the gas are eating up many people's budgets. Gas around Reno jumped .30-.50 in the past week, and nobody has a clue why.
There is a local theater that has closed for a few weeks (one of these where they serve food, newer owners still waiting for a license to have drinks). On a post about it, was a reply from someone who owned/ran that same theater for years (and worked in theaters for more before becoming owner) and he said that traditionally this time right after Labor Day is the slowest for theaters and the least new releases, and that goes back many, many years.
SamSpade
Store Manager
Store Manager
Posts: 1568
Joined: September 13th, 2015, 4:39 pm
Has thanked: 374 times
Been thanked: 57 times
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by SamSpade »

Regal is keeping the downtown Seattle theater open, despite earlier reports, and closing another theater in a former "Act II" market, Tigard, Ore. Interestingly enough, this is where customers of the closed Sherwood, Ore. location were directed to visit.

Bridgeport Village, a large, currently renovating outdoor mall is on the Tigard border with Tualatin though, almost as easy off I-5 and probably as close or closer for patrons. It also has an "IMAX" large auditorium.
Alpha8472
Posts: 3929
Joined: February 24th, 2009, 8:55 pm
Been thanked: 79 times
Status: Offline

Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by Alpha8472 »

Regal is closing these multiplex cinemas just to save money. These cinemas were doing decent business. Regal Sherwood was designed by Act III theatres but opened as a Regal. The design of Act III theaters was very high quality. Their theaters had stadium seating, THX, and high quality speakers.

Regal probably did not want to invest in extensive remodeling to convert to luxury recliner seating.

Hopefully some of these theaters will reopen as independent cinemas. Regal closed a cinema in very wealthy San Ramon, California. The shopping center next to it has lost a ton of business. There are many restaurants and stores in the surrounding neighborhood as well but now there are few customers. It used to be packed with barely any empty parking spaces.

The loss of a cinema can kill businesses that were once very popular.

There is a really nice Round Table Clubhouse across the street. I would hate to see it close.
Post Reply