The abrupt closure of Hooksett’s Regal Cinemas on Thursday has left Concord residents wondering about the fate of the company’s Loudon Road location.
In September, Cineworld, which owns the popular movie theater chain, announced they were filing for bankruptcy. Additional court filings revealed the company planned to close as many as 47 locations after the pandemic caused the company to lose $4.84 billion in sales in between 2019 and 2021. The Concord location was not on the list of expected closures, but neither was the Hooksett theater.
The company, which runs a number of Regal, Eastgate, and other theater locations, sought to exit the leases of “unprofitable, underperforming, or otherwise undesirable” theaters, it said in a March filing, according to a Business Insider report.
However, the Concord location remains open with no end date in sight. Movie showings are still being held, including the release of the popular Guardians of the Galaxy Vol. 3, which opened Friday.
The nationwide closures will save the parent company $22 million or more, according to court documents.
When the pandemic forced movie theaters to close and mandated social distancing throughout the nation, the box office lost more than 30% of their revenue, bringing their sales down from $11.4 billion in 2019 to $7.5 billion in 2022.
Concord’s cinema was constructed in 1996. The building and surrounding land is valued at $3,946,300, according to city documents.
Regal Cinemas representatives could not be reached for comment.