Cineworld Renfrew Street Photo: Stephen Sweeney, licensed under Creative Commons
Following claims that it is considering the closure of all its UK and US outlets, Cineworld announced today that t is considering the option but that a final decision is yet to be reached. The proposed closure would be temporary and would last for the duration of lockdown measures designed to curb the Covid-19 pandemic, or until such time as the business' owners felt that it was possible to make the business profitable again.
Cineworld runs 127 cinema complexes in the UK and 536 in the US (under the Regal brand). It employs a total of 37,000 people worldwide and has pledged to contact its staff as soon as a decision is made. It reported a £1.3bn loss for the first half of the financial year and has hinted that trying to stay open at this time could place its financial survival in jeopardy.
The proposal to close follows the announcement that the release of the next James Bond film will be further delayed. Other major releases have been moved to next year as uncertainty reigns over the way the pandemic will develop.