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Across the board, a lot of people seem to seek their entertainment at home instead of going to the theaters.

This is not good news for Regal Cinemas, which has been hit hard by the pandemic. Since Friday, August 19th, the stock price which dropped 80% has recovered a bit, but it is still 60% below what it was at the start of trading on Friday. They are currently owned by British company Cineworld Group, which has had tough times as of late.Īccording to the Wall Street Journal, British company Cineworld Group has spoken to lawyers about starting the bankruptcy process in the United States and the United Kingdom. Regal Cinemas comprises three companies, United Artists Theatres, Edwards Theaters, and Anschutz consolidation. They built multiplexes and high-scale theaters all over the country. In the 90s Regal worked on acquiring new companies and expanding theatres. Since then, the company has grown at a rapid pace with theaters all over the United States. Regal Cinemas’ first location was the Searstown Cinema in Titusville, Florida. Regal Cinemas was founded in 1989 in Knoxville, Tennessee however, The company has predecessors dating back to the 1920s. The company has over 7,200 screens in 549 theaters and has grown exponentially since it was founded. Regal Cinemas is the second biggest theater chain in the United States and has been for quite some time. According to new reports, Regal Cinemas is in real trouble after its stock price dropped 80% on Friday, August 19th, 2022.

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