The company now operates 375 with 4,219 screens. "Hopefully, someone sees this as a business opportunity." A year ago, Regal was running 430 theaters with a total of 4,485 screens. "I hope there will be a better theater in town," Mr.
They seemed to make pretty good business in Monroe." Some workers said the cinema was making money, but apparently not enough to keep up with maintenance or pay the mall rent, which doubled. "I'm just really surprised," said Matthew Smudz, 17 of Monroe.
#PHOENIX THEATER MONROE MOVIE#
"What about people with gift certificates who were depending on coming to these movies?" Movie buffs were disappointed. "I think everyone should know," the employee added. If I was told ahead of time, it would have been a lot easier for me. "It means I'm out of a job and have no time to find another job. "Thursday we're finding out we're losing our jobs Sunday," said an employee, who heard about it through a manager. Fewer than 20 people are employed at the cinema. The cinema also recently received a shipment of about 400 boxes, bubble wrap and duct tape, apparently for packing up equipment and concession inventory. Some employees became suspicious because ceiling damage caused by recent heavy rain hasn't been repaired for days and the damaged area still is cordoned off.
Some workers already know about it and don't want to work the rest of the week." The lease reportedly expires Aug. "They're afraid if too many people know, they'll refuse to work. "Employees aren't supposed to be informed until Thursday because the fear is the employees will stop working. "The guy who owns the mall came by today, took pictures and said they didn't sign the lease and they're closing," said one worker. Some cinema employees, who declined to be identified by name, also confirmed the closing. Officials at Knoxville-based Regal did not respond to Evening News phone inquiries or e-mails, though others within the company's Knoxville headquarters confirmed the decision and said the firm is ceasing its advertising in The Evening News. Frenchtown Square mall management did not return Evening News phone calls. Regal officials at the mall declined comment and wouldn't confirm nor deny reports of the closing.
The company already has closed 61, or about 14 percent, of its more than 4,000 theaters and reportedly is considering closing up to 69 more based on profitability figures from each theater. and Kohlberg Kravis Roberts & Co., both of which operate other large cinema chains. Regal is owned by Hicks, Muse, Tate & Furst Inc. The closing of the nine-screen cinema complex apparently is part of a companywide downsizing that could see the company shuttering up to 30 percent of its theaters nationwide as it tries to pay off nearly $2 billion in debt. 2007 11:47AM Regal Cinemas plans to close its operations at Frenchtown Square mall for good Sunday, leaving the Monroe area with only one commercial movie house. Regal's screens will fade to black By: Charles Slat story updated August 15.
0 kommentar(er)
