Regal Cinemas parent company plans to file for bankruptcy protection, per report

[Jilly_in_VA]

The parent company of Regal Cinemas is preparing to file for bankruptcy amid consumers' slow return to movie theaters, according to a report from the Wall Street Journal.

With its U.S. headquarters in Knoxville, Regal is one of East Tennessee's most prominent national brands.

The company said in a statement Friday that all Cineworld and Regal theaters are open for business as usual.

Regal closed its theaters across the country and furloughed 40,000 employees for months when the COVID-19 pandemic hit.

Like for all movie theater chains, attendance was slow to bounce back once theaters reopened, and the seemingly endless array of streaming options remain stiff competition.

https://www.knoxnews.com/story/money/2022/08/19/regal-cinemas-parent-company-cineworld-file-bankruptcy/7841613001/

I know we haven't been to a movie theater in over a year. We used to go every couple of months.

[jimfields33]

1. I'm pretty sure most movie theaters will be gone like newspapers

in a decade. Certain things just won’t beat online and streaming.

[LisaM]

3. That would be a shame.

The main reason I don't go to many movies is that most of them are either violent, horror, or based on video games, but I enjoy going to movies.

I wish the studios would hold back on the streaming and give theatres a chance to rebound.

[OldBaldy1701E]

6. They make far more from the streaming services.

Capitalism at work.

[LisaM]

7. I didn't say they shouldn't stream movies ultimately.

I just think they could wait a month or so before they do, especially with how obsessed some people are about seeing a movie the second it comes out (far less true with the movies I like, but the comic book crowd seems to care a lot).

[OldBaldy1701E]

8. I understand your point.

But mine is that it is cheaper for them to stream than it is to deal with distribution, and product, and placement, and the politics of the theatre business... they just get better ROI on the stream service. And, if things don't get any easier on the theatre end, that form of movie viewing will go the way of the dodo soon enough. (Remember, the 'comic book crowd' has a large number of anxiety sufferers who would pay premium prices over and over to be able to see those films as soon as their less inhibited friends do. That is another factor. One of many that may spell the end of the 'going to see a movie' experience.)

[Docreed2003]

2. I'm a Regal fan, as far as theaters go

Their theaters are clean, love the special events they host, love the fact that movies are discounted for reward members on Tuesdays but...BUT my biggest gripe with them, and one of the reasons I go to fewer movies lately, is their boneheaded decision to partner with Pepsi and drop Coke products. I'm not paying exorbitant prices for concessions to drink Diet Pepsi. That's a travesty 🤣🤣🤣

[LisaM]

4. I agree with you there.

I like Coke way better.

We live near a Regal (and get free tickets with our rent) but I am so over super hero movies.

[Jilly_in_VA]

5. We mostly only go

to IMAX films these days, and the nearest IMAX theater to us is in Charlottesville, but whenever the next Star Trek movie comes out, that's the one I'm here for.