Anchorage’s IMAX movie theater spared from bankruptcy closure — for now

A Regal Cinemas movie theater in East Anchorage.
In a Feb. 15 bankruptcy court filing, Regal Theater’s parent company says it is still negotiating lease issues with its landlord for its Regal Cinemas Stadium 16 in Northeast Anchorage. (Abbey Collins/Alaska Public Media)

The Anchorage IMAX movie theater previously slated for closure in bankruptcy proceedings is still up and running, two weeks past the date its parent company had initially proposed for abandoning its lease

Regal Theaters operates the Regal Cinema Stadium 16 at the Tikahtnu Commons shopping center in Northeast Anchorage. It opened in 2010, boasting the state’s first IMAX screen.

News of its potential closure hit this winter. Regal’s parent company, Cineworld Group, began Chapter 11 bankruptcy proceedings in September. 

In January, the company asked its creditors and a federal judge to let the chain break leases and close up shop at dozens of its theaters around the country on Feb. 15, including the one at Tikahtnu Commons. 

But when the 15th came, an attorney for Cineworld said in a court filing that they were still negotiating with most of the landlords. Cineworld proposed and the judge approved a shorter list of theaters to abandon, sparing the Anchorage theater — at least for now.

The Chapter 11 bankruptcy process lets a company continue operating while it works out a plan with creditors and the court to restructure, become profitable and resolve debts.

Neither Regal nor its landlord at the shopping center responded to requests for comment. 

a portrait of a man outside

Jeremy Hsieh covers Anchorage with an emphasis on housing, homelessness, infrastructure and development. Reach him atjhsieh@alaskapublic.orgor 907-550-8428. Read more about Jeremyhere.

Previous articleAlaska’s Mount Edgecumbe volcano shows more signs of reawakening, scientists say
Next article24 photos of Alaska’s massive and bright aurora show