REGAL CINEMAS MAY SHUT DOWN THEATERS ACROSS THE US THIS WEEK

Regal is the second-largest cinema chain in the United States after AMC (AMC), with more than 500 theaters.

REGAL CINEMAS MAY SHUT DOWN THEATERS ACROSS THE US THIS WEEK
Cineworld Group, the owner of Regal Cinemas, said it is considering temporarily closing its theaters “but a final decision has not yet been reached.”

The news comes just a day after the latest James Bond film, “No Time to Die,” was delayed until spring 2021 — the latest blow to the movie industry.

Regal is the second-largest cinema chain in the United States after AMC (AMC), with more than 500 theaters. A spokersperson for the company said Sunday it would update staff and customers on a decision “as soon as we can.”

News of the possible shutdown came as a surprise to many Cineworld staff. Cinema Action Group, a collective of Cineworld employees in the UK, tweeted on Saturday, “there has been no consultation with staff whatsoever.” READ MORE


REGAL CINEMAS TO CLOSE ALL U.S. LOCATIONS, REPORTS SAY
Struggling Regal Cinemas plans to close all of its U.S. movie theaters, according to multiple reports.

British parent-company Cineworld will shutter 543 U.S theaters indefinitely as well as its locations in the United Kingdom and Ireland after losing $1.64 billion in the first half of the year due in large part to the coronavirus pandemic, Variety.com and Reuters reported. READ MORE


CINEWORLD “CONSIDERING THE TEMPORARY CLOSURE” OF U.K. CINEMAS & U.S. REGAL, NO “FINAL DECISION” YET – Update
Cineworld has addressed and clarified the gloomy news out there about the chain shutting down its UK venues and U.S. No. 2 circuit Regal in a tweet this AM.

“We can confirm we are considering the temporary closure of our UK and US cinemas, but a final decision has not yet been reached. Once a decision has been made, we’ll update all staff and customers as soon as we can. We expound more on this in this weekend’s box office report, but distribution sources are informing us that the shutdown in the US looks to be partial, i.e. 65 locations out of roughly the 340-400 that Regal has reopened during the pandemic will shutter. Essentially these are the lower grossing locations in proximity to higher-grossing ones in the same market. Fifty Regal locations are expected to keep operating during weekend hours. READ MORE



CINEWORLD COULD CLOSE ALL REGAL CINEMAS, U.K. VENUES IN RESPONSE TO ‘NO TIME TO DIE’ DELAY
Cineworld could shutter 543 of its Regal Cinema venues in the U.S. and all cinemas across the U.K. and Ireland this coming week, just a day after James Bond film “No Time to Die” was pushed to April 2021.

On Sunday afternoon U.K. time, Cineworld confirmed that it is “considering the temporary closure” of its U.K. and U.S. cinemas, but that a final decision hasn’t yet been reached.

Variety understands that staff were informed of Cineworld’s plans on Sunday — ahead of the company’s statement — with HR explaining that the closure of all cinemas is “one option that is strongly being considered,” though a decision hasn’t yet been made. READ MORE

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