Cineworld is the owner
of the largest chain of theatres in the UK and Ireland, and Regal Cinemas is
the second-largest chain in the United States. Both
chains have decided that they are closing theatres from next week!
Variety has reported
that approximately 543 theatres – 7000+ screens – will shut down in the US. And the
Sunday Times has confirmed that all the 128 theatres in the UK and Ireland are also
Who’s to blame?
Apparently, it’s James Bond!
Yesterday, the upcoming
James Bond film was delayed and given a new release date – April 2021. Obviously,
James Bond was the last straw for theatres. They had hoped for the movie to
bail them out right on time and improve the ticket sales.
Cineworld has released
a statement suggesting that it is considering the temporary closing of the theatres
in the UK and USA, but the final decision has not been made.
The news came as a
shock to the employees as they claimed that no one consulted with the staff. It
is being said that around 5,500 jobs are online.
Cineworld has reported
a loss of $1.6 billion in the first few months of 2020. AMC, the US theatre
chain, has given a similar reaction.
Right now we know that
Disney’s Soul will be coming to theatres in November whereas Wonder Woman and
Dune will enter in December.
Regal hasn’t responded
to the queries as of yet.