For moviegoers, some theaters become more than places to watch the latest blockbuster. They become part of the neighborhood, familiar landmarks where generations of movie fans have spent countless hours making memories with family and friends or escaping reality for a while.
But even as moviegoing rebounds, major theater chains continue to reshape their footprints, closing some locations while investing heavily in others.
Now, a longtime neighborhood theater is preparing to screen its final movies after more than two and a half decades.
The company behind the closure is AMC Theaters. Founded in Kansas City, Missouri, in 1920, AMC is the world’s largest movie exhibition company with 845 theaters and 9,530 screens across 11 countries.
AMC Theaters is closing another location
AMC Theaters (AMC) is closing its AMC Kips Bay 15 location at 570 2nd Ave. in Manhattan, New York, by the end of 2026, the company confirmed. An exact date has not yet been announced as details are still being finalized.
The 15-screen multiplex is one of AMC’s largest theaters in Manhattan and has operated at the location since 1999, with AMC taking over in 2006.
The closure is tied to the property owner’s decision to exercise its contractual right to terminate AMC’s theater lease before its scheduled expiration, according to the company.
The closure will also remove one of the East Side’s moviegoing options, including its IMAX auditorium.
Customers will still have other AMC options throughout Manhattan, including:
- AMC Empire 25: 234 W 42nd St
- AMC Lincoln Square 13: 1998 Broadway
- AMC 84th Street 6: 2310 Broadway
- AMC 34th Street 14: 312 W 34th St
- AMC Village 7: 66 Third Ave E 11th St
- AMC 19th St. East 6: 890 Broadway
- AMC Orpheum 7: 1538 Third Ave E 86th St
- AMC Magic Johnson Harlem 9: 2309 Frederick Douglass Blvd
Recent AMC Theaters closures
The AMC Kips Bay 15 closure comes as AMC continues to adjust its theater footprint following years of disruption to the movie exhibition business.
The company ended June 30, 2026, with 524 theaters in the U.S., down 16 from 540 a year earlier. Globally, AMC operated 845 theaters with 9,530 screens, compared with 864 theaters and 9,717 screens during the same period in 2025, according to its second quarter of fiscal 2026 earnings report.
At the same time, AMC has continued investing in its strongest locations rather than simply pulling back across its entire portfolio.
The company’s strategy is outlined in AMC’s Go Plan, announced in November 2024. AMC said it expects to invest between $1 billion and $1.5 billion over the next four to seven years to improve theaters in the U.S. and Europe, including upgraded seating, premium large-format screens, laser projection, and other enhancements.
AMC Theaters sees stronger results after years of challenges
The theater closures come as AMC’s financial results show a significant rebound in movie attendance and revenue.
During the second quarter of fiscal 2026, AMC’s U.S. performance included:
- Total revenue: Increased 13% year over year
- Admissions revenue: Rose 11.4%
- Attendance: Climbed 12%
- Food and beverage revenue: Grew 14.2%
- Food and beverage per patron: Was up 2.1%
- Average ticket price: Decreased 0.5%
AMC’s total company results were even stronger. Revenue increased 14.2% to $1.6 billion during the quarter, while attendance rose 13.5% to 71.3 million.
Chairman and CEO Adam Aron said the company had seen significant progress in both its U.S. and European businesses during the quarter, pointing to the strength of the domestic box office and AMC’s ability to grow revenue faster than the overall U.S. industry.
That makes the Kips Bay closure a notable example of how AMC’s current strategy is not simply about shrinking its theater footprint.
The company is closing some locations while directing capital toward theaters it believes can deliver stronger long-term returns and a more premium moviegoing experience.
Here’s some of my previous coverage of store closures:
- Popular restaurant company continues closing locations
- Discount retailer quietly closes another store
- Popular breakfast chain closes half its restaurants
For Kips Bay moviegoers, however, the strategy means saying goodbye to a neighborhood theater that has been part of Manhattan’s East Side for more than 25 years. AMC expects the theater to continue operating through the end of 2026, with a final closing date still to be announced.
Related: Discount grocery chain closes 12 stores after expanding too fast
