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Cineworld Shuts All Its UK, US Theaters
By: Tupaki Desk | 6 Oct 2020 12:10 PM GMT
The entertainment industry is badly hit by the coronavirus pandemic. Cineworld, the world's second-biggest cinema chain, has decided to close all of its UK and U.S. movie theatres this week.
The decision of the company leaves as many as 45,000 workers unemployed for the predicted future as it attempts to survive a collapse in filmmaking and theatergoing due to the COVID-19 pandemic.
"Cineworld confirms that it will be temporarily suspending operations at all of its 536 Regal theatres in the US and its 127 Cineworld and Picturehouse theatres in the UK from Thursday 8 October 2020," the company said in a statement.
Cineworld started reopening in July after the ease of restrictions. But the delay in big releases like James Bond film "No Time To Die" and Marvel's "Black Widow," has left the months ahead looking bleak.
Cineworld, which already owes 350 million pounds, has had to shut down its operations due to stiff competition from online firms like Netflix, Disney plus Hotstar, Amazon Prime Video.
The decision of the company leaves as many as 45,000 workers unemployed for the predicted future as it attempts to survive a collapse in filmmaking and theatergoing due to the COVID-19 pandemic.
"Cineworld confirms that it will be temporarily suspending operations at all of its 536 Regal theatres in the US and its 127 Cineworld and Picturehouse theatres in the UK from Thursday 8 October 2020," the company said in a statement.
Cineworld started reopening in July after the ease of restrictions. But the delay in big releases like James Bond film "No Time To Die" and Marvel's "Black Widow," has left the months ahead looking bleak.
Cineworld, which already owes 350 million pounds, has had to shut down its operations due to stiff competition from online firms like Netflix, Disney plus Hotstar, Amazon Prime Video.
