January 20th 2023: Regal Cinemas the nations 2nd biggest movie theater chain which is in bankruptcy has announced the closure of 39 theaters nationwide. One of those theaters to close it the Regal Meridian 16 in downtown Seattle as the company will begin rejecting leases starting February 15th.
Regal Cinemas is trying the restructure itself after its parent company Cineworld filed for bankruptcy in September of last year. The company is suffering from the pandemic when the company had a 2020 loss of $3 billion when the movie theaters were closed.
This is another blow for downtown Seattle with the recent announcements of Niketown closing down today as well as Amazon getting rid of office space downtown.
