Regal Theater in Oaks Among 39 Listed for Closing

OAKS PA – The Regal Oaks Stadium 24 on Mill Road in Upper Providence Township, which opened in 1999 as one of the area’s first multi-screen movie theater venues, is among 39 facilities scheduled to be closed by its corporate parent beginning in February, according to a bankruptcy court filing.

No specific date for the 24-screen Oaks facility closing was announced.

Regal Cinemas, with more than 500 locations across the U.S., is said to be the second-largest cinema chain in the country. It is owned by United Kingdom-based Cineworld Group PLC, which filed for bankruptcy in September. The Oaks complex is one of 39 theaters identified for closing in the company’s Chapter 11 bankruptcy filing updated Tuesday (Jan. 17, 2023).

One other Pennsylvania theater, the Barn Plaza Stadium 14 in Doylestown, Bucks County, also is on the list of impending closings. Twelve Regal-operated properties nationwide, including the Richland Crossing Stadium in Quakertown, Bucks County, have already been closed.

Cineworld’s choice of a Chapter 11 bankruptcy proceeding, filed in Houston TX, allows it to “walk away from leases without incurring major penalties and to press landlords for better terms,” financial news website Business Insider reported. Rejecting leases for the 39 sites listed could allow the company to save $22 million annually, it added.

Like other theater businesses, Business Insider observed, Cineworld’s bankruptcy represents how the “theatrical industry is struggling to fully rebound from the pandemic.” Viewers avoided cinemas for months during fears about COVID and other illnesses. Many turned instead to watching movies at home, particularly on streaming services.

Photo provided by Montgomery County property records