Regal Cinemas will take over operation of the former Arclight Theaters multiplex at the Paseo in Pasadena, reopening the theater for the first time since the COVID-19 pandemic began.
“The Paseo development has long been the entertainment destination for Pasadena; However, since 2020, it has been missing one important element, a state-of-the-art theatre,” Mooky Greidinger, CEO of Cineworld, parent company of Regal, said Thursday in a statement. “In collaborating with our new partners at Onni Group, we are proud to be the new operators of Regal Paseo with exciting upgrades to the theatrical experience forthcoming for this destination location.”
The new lease by Regal comes almost two years to the date that the Decurion Corporation, the parent company of Arclight and Pacific Theatres, announced that it would not reopen its locations, which include the popular Cinerama Dome on Sunset Boulevard.
Since then, various other theater chains have picked up the major Arclight and Pacific locations one by one. Last year, Regal took over Arclight’s location at the Sherman Oaks Galleria, though that location has now closed again as part of Cineworld’s bankruptcy proceedings.
Earlier this week, Cineworld formally filed its restructuring plan in bankruptcy court to allow it to exit Chapter 11 status by this June. As part of the bankruptcy proceedings, Regal was required to close nearly 40 of its locations, including the Galleria location; but the plan, if approved by a Texas judge, will wipe $4.5 billion in debt off the company’s books and raise $2.26 billion in capital.