The South Beach Stadium 18 and Imax, owned by Regal Cinemas, which is located on the western edge of Lincoln Road, will soon close. Since its 1999 opening, the theater has been a favorite location for red-carpet events and movie premieres.
The Tower Theater, another Landmark Miami Cinema, closed last year for refurbishment, Then Cineworld, the parent company, filed for Chapter 11 bankruptcy. In a statement, Cineworld claimed it is collaborating with landlords to keep its theaters running.
“The debtors are hopeful that these negotiations will lead to lease concessions and modifications that will obviate the need for rejection and enable additional theater sites to remain open,” Cineworld said in the filing.