by Michael Maharrey
Schiff Gold
Less than two months after reopening, Regal Theaters will shut down all 536 of its locations on Thursday (Oct. 8).
The company said the closures reflect “an increasingly challenging theatrical landscape” due to the coronavirus pandemic. Regal says the closures are temporary, but the company has not set a date to reopen.
The shutdown reflects broader problems in the retail marketplace that have been exacerbated by COVID-19 and stabs another knife in the narrative of a quick economic recovery.
The Regal shutdown will result in layoffs for 40,000 employees.