BY FREDA MIKLIN
STAFF WRITER
Regal Cinemas’ SouthGlenn Stadium 14 in Centennial and Meadows Stadium 12, just south of the Park Meadows Mall in Lone Tree, will be closing soon. In a filing with the U.S. Bankruptcy Court on January 17, Regal said it would reject the leases at both locations effective February 15, even if they are unexpired. The company will take the same action at 37 other theaters around the country, leaving the company with approximately 500 locations still operating nationwide.
Regal Cinemas’ parent company Cineworld filed for Chapter 11 bankruptcy on September 7, 2022, hoping to stay afloat by reducing its footprint and associated costs. It closed 12 of their locations at that time, but none in this area. Announcing the bankruptcy filing, Cineworld CEO Mooky Greidinger said, at that time, “This will allow us to continue to execute our strategy to reimagine the most immersive cinema experiences for our guests through the latest and most cutting-edge screen formats and enhancements to our flagship theatres,” adding, “Our goal remains to further accelerate our strategy so we can grow our position as the ‘Best Place to Watch a Movie.’”
It is a surprise to no one that movie theaters were adversely impacted by the COVID-19 pandemic. Since then, most traditional movie theaters have failed to recover the majority of their former customers, due to the many streaming options available and to continuing health concerns owing to the close seating in movie theaters. Operators, including Regal, have also complained about the dearth of available films that are exclusively available in their theaters.
None of the other Regal theaters in this area are expected to be impacted by the announced closures at this time.
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