39 Royal theaters should have closed: Why are most still open?

Today, Regal — the nation’s second-largest theater chain — rejected leases nationwide as part of its bankruptcy proceedings. However, designated theaters such as Manhattan’s Union Square and Sherman Oaks Galleria will remain open. They’re even selling advance tickets for “Ant-Man and the Wasp Quantumania” and “Creed III.”

Multiple distributors told IndieWire that the 15th never had a shot. it was a maneuver that Judge Marvin Isgur insisted Cineworld act quickly during the bankruptcy proceedings.

Cineworld may be struggling financially, but it has an advantage in one respect: most Regal sites would struggle to be anything other than a cinema, so you can bet the owners will want to renegotiate the lease terms. Since most of the 39 locations are open for now, we assume that discussions are taking place.

That said, IndieWire has confirmed that five Regal locations have closed this week (the Berkeley, California location has already closed).

• Shadowood 16 (Boca Raton, FL)
• Round Lake Beach Stadium 18 (Round Lake Beach, IL)
• Fenway Stadium 13 and RPX (Boston, MA)
• Brunswick 10 (Brunswick, ME)
• Montrose Movies Stadium 12 (Akron, OH)

UK-based Cineworld, which owns Regal stateside, is hopeful with the closing of 39 out of about 500 American movie theaters Saves $22 million in costs. A dozen Regal theaters also closed last fall. Of the 39 theaters identified as closed, only Union Square is among Regal’s top 40 locations.

Cineworld has indicated that it is still in talks with its debtors about a debt restructuring, as well as with potential buyers. Cineworld shares rose nearly 20 percent A report earlier this week suggested that Vue International, Europe’s largest privately owned cinema operator, may be considering a takeover.

Here are the 39 previously announced theaters, all of which are rejecting leases and may close at a later date:

• 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)
• 16 Sherman Oaks Galleria (Los Angeles, CA)
• Yorba Linda and Imax (Yorba Linda, CA)
• Meadows Stadium 12 (Littleton, CO)
• SouthGlenn Stadium 14 (Centennial, CO)
• Shadowood 16 (Boca 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)
• 16 Elmwood Center (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)

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