Regal Cinemas To Close Upstate New York Theaters In Bankruptcy
Even with billion dollar blockbusters like Avatar: The Way Of Water, Top Gun: Maverick, and the latest Marvel offerings, Regal Cinemas can't stop its slow spiral through bankruptcy. Now Regal's parent company is closing the doors on multiple Upstate New York theaters.
These Regal Are "Now Showing" Themselves Out
An August Wall Street Journal report broke the news that the British parent company for Regal Cinemas, Cineworld, was filing for bankruptcy. Cineworld is the second-largest theater chain in the world, behind AMC. The company barely avoided bankruptcy during the pandemic, getting a lifeline from creditors in 2020.
On Thursday, Business Insider released a list of the 39 Regal Cinemas that will be closed in 2023. Six out of those that are turning off their projectors for good are in New York, with several of those in Upstate. Regal stands to save $22 million per year from shuttering these locations.
- Elmwood Center 16 (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)
What About Upstate's Remaining Regals?
Regal owns two main Albany theaters in Colonie Center and Crossgates Mall, plus additional Capital Region locations in East Greenbush and Clifton Park. Those locations all appear safe for now.
Cineworld says its still renegotiating some leases still, so that could still change. Hopefully Regal will announce its full restructure soon and we can keep all our other Upstate theaters for many more blockbusters to come.