The second largest cinema chain within the US is quickly closing its doorways nationwide. Cineworld, dad or mum firm of Regal, announced that will probably be suspending operations of its 536 Regal theaters as of Thursday, October 8. The suspension additionally impacts 127 Cineworld and Picturehouse cinemas within the UK.
Cineworld had solely simply reopened theaters in August. The closures will influence roughly 40,000 workers throughout the US, the corporate introduced. It additionally impacts 5,500 employees in the UK, The Guardian reviews.
Right this moment’s announcement follows news over the weekend that the discharge of the twenty fifth James Bond movie, No Time to Die, has once more been pushed again to April 2021 as a result of ongoing pandemic. Theaters had been relying on the newest 007 installment to drive sagging ticket gross sales.
“We’re like a grocery store that doesn’t have greens, fruit, meat,” Cineworld CEO Mooky Greidinger tells The Wall Street Journal. “We can’t function for a very long time with out a product.”
The Cineworld closure is indefinite. Reopening will rely upon the discharge schedule set by the studios, in line with Regal.
“Regal will proceed to observe the scenario intently and can talk any future plans to renew operations on the applicable time, when key markets have extra concrete steerage on their reopening standing and, in flip, studios are in a position to deliver their pipeline of main releases again to the massive display,” the company says in a statement.