Regal currently operates 375 theaters with a combined 4,219 screens, including facilities in the Orange County communities of Garden Grove, Foothill Ranch and La Habra. It has shuttered 61 theaters since last summer, when years of screen overbuilding prompted a number of consolidations and even bankruptcies throughout the theater industry.

The Tennessee-based chain was purchased about two years ago by buyout specialists Hicks Muse Tate & Furst Inc. and Kohlberg Kravis Roberts & Co. A Regal spokesman says no particular theaters have been targeted for closure, but that nearly 70 could be jettisoned across the United States.

Several other theater chains with a large Southern California presence have also run into trouble in recent months. Orange County-based Edwards Theater Circuit Inc. filed for bankruptcy last fall and closed several complexes, including five in the county.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.