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#Regal Closing Once-Busy Union Square Movie Theater In NYC as Bankruptcy Proceeds

Regal Closing Once-Busy Union Square Movie Theater In NYC as Bankruptcy Proceeds

The fallout from Regal Cinemas’ bankruptcy proceedings continues.

Parent company Cineworld has filed court papers revealing the imminent closure of 39 Regal locations across the United States — including the once-bustling Union Square Stadium 14 in New York City and the upscale Sherman Oaks Galleria cinema in Los Angeles.

The latest cost-cutting measure is expected to save the company $22 million in costs. The majority, if not all, are considered underperforming locations in the wake of the COVID-19 crisis. Regal, which filed for Chapter 11 bankruptcy in September 2022, shuttered at least a dozen theaters last fall.

Regal has long operated the Union Square multiplex in Manhattan, but only took over the operation of the Sherman Oaks Galleria multiplex in mid-2021 after Pacific Theatres, home of the ArcLight chain, went out of business.

Before the Chapter 11 filing, there were roughly 500 Regal cinemas in the U.S. There’s always a chance that another cinema chain could take over some of the now-shuttered multiplexes. 

Insider first reported the new round of Regal closures.

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