The decision comes four months after its parent company Cineworld filed for Chapter 11 bankruptcy after the pandemic devastated the industry and public screenings. In a filing this week, Cineworld said it is planning to reject leases for the 39 theaters beginning February 15, saving the company $22 million annually. Cineworld is working with landlords to keep its other theaters open. Around 500 remain, after these closures and a previous round in September 2022 that shuttered 12 locations.
“The debtors are hopeful that these negotiations will lead to lease concessions and modifications that will obviate the need for rejection and enable additional theater sites to remain open,” Cineworld said in this week’s filing. When Cineworld announced its decision to file for bankruptcy last year, the company said it wanted to shed debt.
Wondering when RegalMovies AMCTheatres and all other theaters are going to wake up to the reality that if they want us to come back to their theaters they need to offer shows that require masking. Enhance your ventilation and promote that you’ve done it. Covid is airborne.
Good
Not surprising at all, live 2 minutes away from one that’s closing, but I always drove 20 minutes for AMC anyways 🤷🏽♀️
A lot here in so cal
Go woke go broke. Universities are next