MANHATTAN (PIX11) — The Regal Union Square movie theater is set to close.
It’s one of the dozens of theaters owned by parent company Cineworld slated for closure. The lease agreement for the Union Square location ends on Feb. 15, however, it wasn’t immediately clear whether this would be the closing date for the theater. Cineworld did not return PIX11’s request for comment.
Cineworld filed for bankruptcy in September. The COVID pandemic played a big role in the company’s bankruptcy, Cineworld CEO Mooky Greidinger said at the time.
“This latest process is part of our ongoing efforts to strengthen our financial position and is in pursuit of a de-leveraging that will create a more resilient capital structure and effective business,” Greidinger said. “This will allow us to continue to execute our strategy to reimagine the most immersive cinema experiences for our guests through the latest and most cutting-edge screen formats and enhancements to our flagship theatres. Our goal remains to further accelerate our strategy so we can grow our position as the ‘Best Place to Watch a Movie’.”