In the latest blow to the beleaguered film
industry, the second-largest movie theater chain
in the U.S. is temporarily shuttering its locations
due to a lack of blockbusters on the calendar
and major domestic markets like New York
remaining closed.
Cineworld Group Plc said that it would close 536
Regal cinemas in the U.S. and 127 Cineworld
and Picturehouse venues in the U.K. this week,
affecting some 45,000 employees.
“This is not a decision we made lightly,” said
Cineworld CEO Mooky Greidinger.
In the past few days, the already decimated
2020 release calendar lost another big film
in the James Bond pic “No Time to Die.” It is
at least partly due to the fact that one of the
country’s biggest markets, New York, has not
committed to a plan or a date for reopening
cinemas in the state.