Nuked cineworld, parent company of Regal, temporarily closing its 536 regal theaters. Suspension also affects 127 cineworld and picturehouse cinemas in the UK.
Cineworld had only just reopened theaters in August. Closures will impact approximately 40,000 employees across the US. It also affects 5,500 employees in the UK.
The release of the 25th James Bond film, no time to die, has again been pushed back to April 2021 due to the ongoing pandemic. Theaters were counting on the latest 007 installment to drive sagging ticket sales.
Cineworld CEO mooky greidinger says’we can not operate for a long time without a product’.
Cineworld reported a loss of $ 1.6 billion in the first half of 2020. The largest US theater chain, AMC, has also been hit hard by the pandemic.
The cineworld closure is indefinite. Reopening will depend upon the release schedule set by the studios, according to Regal.
