Regal Cinemas to shut down 3 local movie theatres amid bankruptcy

PHILADELPHIA (WPVI) -- Nearly 40 Regal Theaters will close in the U.S. after parent company, Cineworld, filed for bankruptcy, according to legal filings obtained by Action News.

Cineworld plans to reject leases on Feb. 15 at 39 locations, including three in our area:

Cineworld has struggled to stay afloat during the pandemic, when it was forced to close its movie theaters worldwide. It suffered a $2.7 billion loss in 2020, and $566 million loss in 2021.

The company says it will save $22 million a year when these locations shut down.

Click here for a full list of locations expected to close.