In 2016, Regal moved its headquarters to Knoxville after agreeing with city council to employ at least 275 people in the building for at least 10 years. Cineworld reported around $4.84 billion in debt in its 2021 annual report. After articles started being shared online, the company’s shares dropped more than 80%. WBIR reached out to the city of Knoxville to see if there was any concern about the agreement it previously made with the company. A city spokesperson said they referred the questions to Regal, saying it was premature and speculative for the city to comment on Regal’s situation. Some residents living near the building said they are already looking to a future without Regal in the. building, though. . . .
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