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Regal Cinemas is closing 39 more movie theaters across the United States beginning in February. The company has more than 500 locations in the U.S. and is the second-largest movie chain behind AMC Theatres. In recent years, the box office has seen some significant successes, such as "Avatar: Way of Water," "Top Gun: Maverick," and "Spider-Man: No Way Home." However, a recent COVID-19 crisis has doubted the company's future.

Cineworld filed for Chapter 11 bankruptcy protection last September and secured about $1.94 billion in bankruptcy loans. It has also begun active negotiations with landlords to keep some of its theaters open. But several theaters are closing, including the Regal Cinema on Court Street in Brooklyn. This theater has been a staple in downtown Brooklyn for over two decades, and some hope the building will reopen.

According to the company's court filing, its plan to reject the leases of 39 movie houses will save $22 million a year. In addition, Cineworld estimated that its program would save the company about two dollars per person per year. Other theaters that may be closed are in California, New York, Massachusetts, and Washington, D.C. Despite the loss of these locations; the chain expects to keep its overall number of theaters at 500.

The company has filed to close at least four additional theaters, but those are not expected to happen shortly. If they do, it will be the third time the company has shuttered theaters in six months. While the company has plans to save $22 million a year, it is still working to preserve other theaters.

According to its latest financial report, the company will take a $708.3 million loss before taxes in 2021. Its rent will increase by nearly 30 percent by the end of 2022. When the COVID-19 outbreak hit, many of the theaters at the chain were considered underperforming. Eventually, it was decided to abandon its personal property and shut down most of the locations. That is why it has to obtain court approval before it can close its theaters.

If you are interested in one of the theaters being closed, you will want to act quickly. Several have already begun to run out of movies, and they may have to close down in the next few months. The most popular theaters being closed include the IMAX at Transit Center Stadium 18 in Williamsville and the Great Northern Mall in Denver.

Some of the theaters being closed by the chain are located in major cities, such as Boston, Los Angeles, and Washington, D.C. However, the company can keep some theaters open by pushing landlords to offer better terms. One theater being pushed out of the chain is the ArcLight chain, which operated the Pacific Theaters in San Francisco. Though it was not immediately clear what the future of the theater was, some people hoped a newer movie house would replace it.