The parent company of the nation’s second-largest movie theater chain will close all 536 movie theaters in the United States indefinitely, as the neo-crown virus pandemic delays the release of new movies and people are still reluctant to go to the movies. Cineworld Group said it will close all Regal movie theaters in the U.S., as well as 125 venues across the U.K. The company said it will close all of its theaters in the U.S. indefinitely.
Cineworld Group is closing more than 530 Regal movie theaters in the U.S. and about 125 in the U.K. indefinitely.
CEO Mooky Greidinger said the move will affect 45,000 employees.
I think we have reached the stage where we have no choice,” said Cineworld Group CEO Mooky Greidinger. It was a very, very difficult decision for us, especially thinking about touching the interests of our employees. It’s not easy.”
The group closed the movie theater after the outbreak of the New Crown virus and reopened it in July.
We actually had a very warm reception from the beginning, and we knew that people missed the cinema and people wanted to come back to it,” says Grittinger. But at some point, we didn’t have films.”
That’s because studios have delayed the release of new films, such as the latest “James Bond” film.
So it doesn’t make sense to open theaters at this point, Grittinger says.
We’re in a situation where we have to look at it from the point of view of a kind of closure, and if we open, we’re going to lose a lot more than if we close, because we’re like a grocery store without food,” Grittinger says. That’s the only decision we can make.”
Meanwhile, AMC Entertainment, the world’s largest theater chain, said Tuesday that most of its theaters in the U.S. and Europe will remain open.
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