Regal, the country's largest film exhibitor with more than 4,400 screens in 420 locations, has been suffering financially from overscreening, as have many of its competitors. The industry added some 12,000 screens in the past five years. The country's current inventory of 36,000 screens is thought by many observers to be 10,000 too many.
However, the local Regal closing may also have something to do with the recent opening of a 12-screen Regal in nearby Bonita Springs. A tenant is now being sought for the older cinema. Property management concedes finding a theater owner to take over the space will probably be difficult in the current competitive climate.
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