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Another Movie Theater Complex Bites the Dust

EAST NAPLES, FL-Last week it was General Cinema closing all 11 Florida locations. Now Regal Cinemas has begun to shut down movie houses, with a six-screen multiplex in this South Florida Gulf Coast location getting the axe.

By Harold Kelman | Updated on October 05, 2000

EAST NAPLES, FL-The shutdown of an 18,955-sf Regal theater complex will leave a big hole in the tenant lineup at the 109,372-sf Naples Towne Centre. The 1980s vintage shopping center, owned by the RMC Konover Property Trust, has had very few vacancies until now, according to ownership’s regional office in Tampa.

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.

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