Downtown Seattle's Regal 16 Movie Theater Is Closing: Reports

SEATTLE — A popular movie theater in downtown Seattle will soon be closing its doors, according to multiple reports.

Business Insider reported Thursday that Cineworld Group, the parent company of Regal Cinemas, will be rejecting leases at 39 theaters effective Feb. 15. That list includes Regal Meridian 16, located near Westlake Center in the heart of downtown.

As The Seattle Times notes, Regal's other locations in the region were not included on the list of pending closures, including theaters at Seattle's Thornton Place, Bellevue's Crossroads, and Lynnwood's Alderwood Mall. For downtown moviegoers, only AMC Pacific Place will remain.

The closings are part of a bankruptcy filing by Cineworld, which told the court on Tuesday that the closings would save the company $22 million a year while it continues to work with landlords to preserve other theaters, according to Business Insider.

The movie theatre industry continues to struggle in the aftermath of the pandemic, which saw a shift by Hollywood studios to streaming and VOD releases.

Cineworld, which operates more than 9,000 screens across 10 countries and employs around 28,000 people, declared bankruptcy in September citing a difficult economic environment for movie theaters brought on by the pandemic, as well as high debt stemming from its $3.6 billion purchase of Regal just prior to the pandemic.