ESCONDIDO, Calif. — Moviegoers in North County will be able to keep one of their famed giant-screened locations: Regal Cinemas 16.
The City of Escondido announced that Regal Cinemas in the 300 block of West Valley Parkway would remain in the city after joint negotiations with the location's property owners and the support of the Downtown Business Association.
In January 2023, Regal Cinemas announced it was gripped with about $8.8 billion of debt when it filed for Chapter 11 bankruptcy.
Escondido's Regal Cinemas location was on the chopping block until the community rallied to express their overwhelming desire to preserve the longstanding asset.
"We are thankful that Regal Cinemas heard the community through our letters of support and decided to work with the property owners to maintain the theater in the City of Escondido," stated Sean McGlynn, Escondido City Manager. The Ownership made significant concessions to ensure Regal had a profitable future.
Escondido city officials offered to offset a small portion of the cost of improvements to the property owner, including repairing and preparing stucco within the shopping center where the cinema is located, further enhancing the theater's appeal to its patrons.
The City of Escondido encouraged the community to continue to show their support by attending more shows in person.
"Each ticket purchased not only offers an enjoyable experience but also signals a strong message of support, allowing the theater to maintain its presence in Escondido," said Jennifer Schoeneck, the Deputy Director of Economic Development for the City of Escondido.
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