MANAHAWKIN, NJ – Cineworld, which operates over 500 Regal Theaters across the United States last week confirmed reports that they are considering shutting down operations nationwide. This comes as several planned blockbuster movie releases have been moved to 2021, including the James Bond thriller Time to Die, Marvel’s Black Widow and Steven Speilberg’s West Side Story. “We can confirm we are considering the temporary closure of our U.K. and US cinemas, but a final decision has not yet been reached. Once a decision has been made we will update all staff and customers as soon as we can,” Cineworld said after reports of the closures were leaked to the media.
Today, the chain announced the shut down will begin Thursday and affect 45,000 employees.
“Cineworld will continue to monitor the situation closely and will communicate any future plans to resume operations in these markets at the appropriate time, when key markets have more concrete guidance on their reopening status and, in turn, studios are able to bring their pipeline of major releases back to the big screen,” CEO Mooky Greidinger said in a statement.
The company reported a loss of $1.6 billion in the first half of 2020. The closure affects the Regal Cinemas theaters in Manhawkin, Mays Landing, Vineland, Washington Township, Moorestown, Burlington, Trenton, New Brunswick, Rutgers, and Pohatcong.