The move comes as Regal parent company Cineworld prepares to emerge from Chapter 11 bankruptcy in the U.S.
It’s not uncommon for companies going through Chapter 11 bankruptcy to strike deals that are considered part of the normal course of business, or fall within other parameters. Regal didn’t immediately respond to a query as to whether it had to seek permission to sign the lease.
“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,” Cineworld CEO Mooky Greidinger said 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 upscale outdoor mall is located at the intersection of East Colorado Boulevard and South Marengo Avenue, adjacent to the Pasadena Convention Center.
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