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Strategies & Market Trends : Sharck Soup

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To: Jim Spitz who wrote (34597)	9/7/2001 8:01:47 AM
From: Jim Spitz	Read Replies (1) of 37746

Regal Cinemas files for bankruptcy Published Sep 7 2001 KNOXVILLE, TENN. -- Regal Cinemas, the nation's largest movie theater chain, said Thursday it will file for Chapter 11 bankruptcy protection as part of a restructuring plan that will shift ownership to a group led by Denver billionaire Philip Anschutz. The plan will allow Anschutz and his partners to "exchange the debt he has purchased for an equity position" in Regal, Regal spokesman Dick Westerling said. Regal, like several other major movie chains, aggressively expanded in the late 1990s and ended up with too many theaters. The chain closed 98 theaters with 646 screens this year but still remains tops in North America with 3,898 screens in 338 locations. -- Associated Press © Copyright 2001 Star Tribune. All rights reserved.

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