There was disappointing news for cinema goers in the Buffalo area today with the news that popular movie business Regal Cinemas is closing two of its locations in the region.
The Regal Cinemas at the Transit Center Stadium 18 and IMAX in Lancaster, and Elmwood Center 16 in North Buffalo will not have their leases renewed next month.
The parent company of Regal Cinemas, Cineworld, filed for Chapter 11 bankruptcy after the pandemic devastated the industry and public screenings. To save costs, the business has decided to close 39 cinemas across the United States starting from February 15.
Unfortunately, two Buffalo locations were on the list of sites to be closed.
“In the lead up to these chapter 11 cases, the Debtors undertook an extensive analysis of their U.S. lease portfolio as part of formulating a revised, go-forward business plan. The objective of that analysis has been, and continues to be, identifying unprofitable, underperforming, or otherwise undesirable theater locations in the United States" Cineworld
Closing these 39 locations will hopefully lead to the rest of the cinemas across the country staying open. At this stage, it appears the Regal theaters in Buffalo that will remain open are Regal Walden Galleria and Regal Quaker Crossing.
"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
Regal Cinemas is the United States’ second-largest theater chain behind only AMC Theaters.
Your thoughts
Are you sad to hear that Buffalo, New York, will lose two cinemas? Did you attend either of these locations? Would you like to see another business take over these sites?
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