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The world’s second largest cinema operator, Cineworld, is temporarily closing its cinemas in the United States and Great Britain. The reason is the crisis of the crown and the postponement of the new 007 movie.
London’s Cineworld complex, which, like all others in the UK, will be closed.
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Theaters are among the biggest losers from the Corona crisis around the world. They were closed for months and when they were back in operation, strict security precautions were required. Viewers arrived only hesitantly due to Corona’s requirements. The situation is particularly precarious in Britain and the United States.
Big chains like the industry leader AMC Entertainment or Cineworld have already announced that they will have to raise money elsewhere because there is not enough in the boxes. Now Cineworld, the world’s second-largest movie theater operator, is hitting the emergency brake. In the UK and US, all cinemas will be temporarily closed. The company operates 128 cinemas with 1,180 screens in the UK and Ireland. In the United States, 500 cinemas belong to Cineworld. A total of 45,000 employees are affected by the measure. The purpose of the measure is to save costs and stop the flow of money, the company announced Monday.
Broken hope for the new “James Bond” movie
Cineworld had already signaled the move over the weekend and justified it, among other things, with the lack of movie premieres. Recently, the new “James Bond” movie was postponed again; It will only be shown in spring 2021. Without potential blockbusters like the new James Bond film “No Time to Die,” the industry could not survive, the “Sunday Times” had previously reported, citing a letter from Cineworld.
Cineworld had high hopes for the new Bond movie starring Daniel Craig and Rami Malek.
This was dramatic news for theaters, which were expecting a greater number of attendees with the release of this film. And she was by no means the only one: In recent weeks, the start dates for the Hollywood movies “Wonder Woman 1984”, “Top Gun Maverick”, “Black Widow” and “The King’s Man” have been postponed.
The Cineworld chain of cinemas, which is present in a total of ten countries, had recently reported semi-annual losses of almost 1.6 billion dollars. Even British secret agent James Bond couldn’t have made up for this alone.
So far it is not clear when Cineworld will reopen the doors of theaters. The British company said the situation will continue to be closely monitored and appropriate conclusions will be drawn regarding a reopening.
Cineworld’s share price fell 56% on Monday morning. Over the course of 2020, the securities have already lost 88% of their value.
