Regal Cinemas Plans More Closures

ORANGE COUNTY, CA-Regal Cinemas Inc., which has already closed 14% of its theaters nationwide as it struggles under nearly $2 billion in debt, says it’s considering the closure of up to 70 more.

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.