Regal Cinemas is closing 39 more movie theaters across the United States, including the Regal UA Berkeley 7 theaters in downtown Berkeley. The decision comes four months after its parent company Cineworld filed for Chapter 11 bankruptcy after the pandemic devastated the industry and public screenings. In a filing this week, Cineworld said it is planning to reject leases for the 39 theaters beginning Feb. 15, saving the company $22 million annually. At the Berkeley site, a Bay Area developer bought the property last year with plans for a 17-story mixed-use development including more than 230 apartments. When Cineworld announced its decision to file for bankruptcy last year, the company said it wanted to shed debt.

Source: CNN January 21, 2023 00:52 UTC