The loss of the historic venue is part of 39 planned closures nationwide.
The shuttering of the 90-year-old Regal UA Berkeley on 2274 Shattuck Ave. is part of 39 planned theater closures nationwide that are expected to roll out starting Feb. 15 after Cineworld, the parent company of Regal Cinemas, filed for Chapter 11 bankruptcy last September. Business Insider was first toLegal filings obtained by
cited that the monthly rent per theater had increased by nearly 30% from 2019 to 2022 and that the closures would save the company $22 million per year as it struggles to claw back to its pre-pandemic box office earnings.that an application submitted by San Francisco-based developer Panoramic Interests proposed plans for a “partial removal of the existing commercial structure” that would allow for the construction of a 17-story mixed-use apartment building in place of the theater.
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