Media Reports in the United States suggest that Cineworld Group, the owner of Regal Movies, the second biggest Cinema Chain in North America may file for bankruptcy. The company is yet to do that but this news has panicked the entire TFI and the trade.
If Regal Movies files bankruptcy, that will impact the payments of recent releases like Sita Ramam, Karthikeya 2, Bimbisara, and others due to their payment terms.
Liger distributor, Sarigama Cinemas will now opt to skip Regal release totally for the film. He will have to make up the 90 odd Regal theaters with Cinemark and other Private theaters.
Even though it is a lucky escape for Liger distributor at the last minute, it will be a challenge to accommodate the film in other theaters closer to Regal theaters and create awareness in the audience about the change in short time.
If the bankruptcy is true, the distributors of the recent releases will be impacted. Even if the news is true/false, the Liger distributor will have to go through all these hassles as stated above.
Regal Chain is the second biggest revenue contributor for Telugu movies first being Cinemark. AMC theaters despite being the biggest chain mostly screen Hindi films.
Meanwhile, Regal has released a Press statement saying that – “All of our Cineworld and Regal theatres are open for business as usual, and we continue to welcome our guests and members to our cinemas globally”.
Regal is open for business as usual! We continue to welcome Regal Unlimited and Regal Crown Club members and our guests to our theatres. We are committed to our customers’ experience and to being the “Best Place to Watch a Movie." pic.twitter.com/7BoIGfFVh1
— Regal (@RegalMovies) August 19, 2022