Regal Cinemas filing for bankruptcy (1 Viewer)

[Adam Lenhardt]

I live in a small town now.

You still in the greater NYC metro area, or did you relocate to a different part of the country?

 

[TravisR]

I've never understood why landlords would rather have empty buildings than charge a lower, yet reasonable rent. There are a number of business around here that have stated rent as a reason for closing or relocating. Most of those spaces remain empty. Seems like paying taxes on an empty building would be a bad business move.

And what else could move into a movie theater except another movie theater? Without massive modifications or razing the building, an empty theater today will forever be a place that the cops will get the periodic call to toss the homeless, teenagers or abandoned building You Tubers out of.

 

[Josh Steinberg]

You still in the greater NYC metro area, or did you relocate to a different part of the country?

Long Island, my old stomping grounds. So weird that my local theaters are the same ones I saw movies in as a kid. I was relieved my local Regal was spared.

 

[Adam Lenhardt]

Long Island, my old stomping grounds. So weird that my local theaters are the same ones I saw movies in as a kid. I was relieved my local Regal was spared.

God bless you; there's a lot of beautiful beaches and scenery, and just about every convenience you could ask for, but I don't think I'm built for what Long Island requires of a person. Before the pandemic, I'd present annual trainings at Nassau BOCES and Eastern Suffolk BOCES. After three days of bumper to bumper traffic on the LIE and the congested parkways and local roads, I was more than ready to head back north to bucolic and uncrowded upstate New York.

 

[Mike Frezon]

bucolic and uncrowded upstate New York.

Yeah, baby!

Glad to see that we (the greater Albany area) escaped that list, Adam!

 

[Colin Jacobson]

On one hand Regal has always been a sleazy company and seeing them collapse years after what they did to the movie theater scene in Portland following their hostile takeover of the Act III chain feels like long overdue karma.

On the other hand my movie watching childhood in the Bay Area is dying in front of my eyes. =(

This feels reminiscent of Blockbuster closing.

People hated BB in the 90s because they drove so many mom and pop video stores out of business.

But then the same people felt sad when BB went down because... no more video stores period!

I'm firmly an AMC boy these days but I don't like to see any theater chains struggle because I care about the health of the industry period.

 

[TravisR]

I'm firmly an AMC boy these days but I don't like to see any theater chains struggle because I care about the health of the industry period.

Yeah, I used to like to go with the little guy when possible but at this point, I feel like supporting any movie theater or book store or record store or disc retailer, etc. is a good thing.

 

[Josh Steinberg]

God bless you; there's a lot of beautiful beaches and scenery, and just about every convenience you could ask for, but I don't think I'm built for what Long Island requires of a person. Before the pandemic, I'd present annual trainings at Nassau BOCES and Eastern Suffolk BOCES. After three days of bumper to bumper traffic on the LIE and the congested parkways and local roads, I was more than ready to head back north to bucolic and uncrowded upstate New York.

The traffic is a little better following the pandemic; I think work from home has had an impact on that. In our day to day, it’s far less crowded compared to living in the city. But I know exactly what you’re talking about and I never imagined I’d be back here either!

 

[Colin Jacobson]

Yeah, I used to like to go with the little guy when possible but at this point, I feel like supporting any movie theater or book store or record store or disc retailer, etc. is a good thing.

Exactly. When industries struggle in general, you can't be too picky about who you want to "win" or "lose".

Even if someone hates Regal, its decline is bad for the industry.

 

[Patrick Sun]

While Regal theaters in Georgia were spared, probably just a matter of time going forward. But I don't think I've been to a Regal theater in many many years due to be on the AMC A-list.

 

[Josh Steinberg]

It depends on what the real estate obligations are in Georgia. It looks like these specific locations were cut because the real estate costs were out of proportion to revenue potentials.

At the Union Square NYC location that’s closing, one of the trades mentioned that business has been down substantially from 2019 through 2022 because of the pandemic, but their real estate costs increased 30% in that same timeframe. The bankruptcy proceeding is letting Regal get out of a lease with a brutal landlord that is enforcing rent raises at a time of declining business potential rather than being willing to renegotiate a lease that would more realistically reflect the landscape that everyone is operating within today. If you’re Regal that’s probably a sound business move - you don’t want to be in business with a landlord that thinks a global pandemic is an appropriate time to squeeze more money out of their tenants.

 

[Colin Jacobson]

While Regal theaters in Georgia were spared, probably just a matter of time going forward. But I don't think I've been to a Regal theater in many many years due to be on the AMC A-list.

Same here.

I remember I saw the 2018 "Grinch" at Regal because I had just joined A-List earlier that year and I had a lot of Regal Crown Club points to use or lose.

I was primarily a Regal boy prior to the creation of A-List, but the latter sent me to the arms of AMC.

If Regal had come up with their unlimited plan first, I probably would've stayed with them. I like A-List more because it covers 3D/IMAX/Dolby and I don't actually need unlimited movies - I rarely max out 3/week as it is - but I probably would've stayed with Regal unlimited if it happened first just out of laziness!

Anyway, only way I see myself somewhere other than AMC would be if I'm in a place that lacks an AMC - or if I'm in a social situation where Regal or another chain is much more convenient.

For instance, my girlfriend lives like half a mile from a Regal but AMC is a good 30 minute drive from her place, so we'll probably end up at Regal occasionally.

 

[Alex...]

Regal Parent Cineworld Has Reached Out To 30 Potential Buyers As It Pursues Sale; Initial Bids Due Next Month​

Regal Parent Cineworld Has Reached Out To 30 Potential Buyers As It Pursues Sale; Initial Bids Due Next Month

Regal parent Cineworld said it’s opted to pursue a sale of assets and the process “is well under way” with non-binding bids due February 16. The company said in a bankruptcy filing this week that i…

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