STOCKTON, Calif. — For nearly two decades, walking on the bricks and cement underneath the pink and white dome of the iconic downtown Stockton Cineplex has meant it's movie time. But, the drama now involving the landmark downtown movie theater is taking place in a courtroom.
In September, Regal Cinema's parent company, Cineworld, filed for Chapter 11 bankruptcy. Regal Cinemas, which owns the downtown Stockton movie theater, was sold to Cineworld in 2017 before the COVID-19 pandemic hit which brought the film industry to a halt and proliferated the popularity of streaming services.
"The theater is an important part of our downtown and the revitalization of our downtown," said Micael Huber, executive director of the Downtown Stockton Alliance. "It's a focal point that brings visitors to the area."
Aside from featuring thousands of movies and being the main visual attraction at events, Regal Stockton City Center has also helped the local economy, Huber says.
"People just don't come to the movies, you know? Normally, they'll come down and have dinner and either before or after, and they'll shop at some of the local stores," Huber said. "It drives commerce to the downtown."
The commerce boost that the theater brings would be a hit to the downtown district if the theater were to close, Huber says.
"Loss of commerce downtown is impactful so there would be a ripple effect from that-- less visitors because there's less people going to the movies," Huber said. "So there's definitely a financial impact to the theater closing, but I don't see that happening."
The Los Angeles Times reported that part of Cineworld's bankruptcy response would include the possibility of renegotiating cinema lease terms with landlords in the U.S.
While the idea of the downtown Stockton theater being sold is a possibility as the company moves through the unpredictable bankruptcy process, the Downtown Stockton Alliance believes that won't happen.
"I spoke with the manager, I've done a little research on Cineworld," Huber said. "It looks like they're just financially restructuring to lower their debt ceiling, but have no plans on closing any of the 500 theaters that they operate."
For now, as the bankruptcy plays out in court, Huber says the popcorn will still be popped and the show will still go on at the downtown Cineplex.
"If you look at the crime reports in the city of Stockton downtown is one of the safer places," Huber said. "So come down, enjoy the theater and enjoy downtown and we'll take care of you down here."
Regal Cinemas did not respond to a request for comment Thursday.
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