40,000 Jobs At Stake As Regal Cinemas Plans To Temporarily Close All Movie Theaters

(Photo by Victor J. Blue/Getty Images)

Font Size:

Cineworld has opted to close down all locations of Regal Cinemas across the U.S. as coronavirus continues to push back the release of big market films.

Due to the delay of movies such as “Mulan,” “Wonder Woman 1984” and “Black Widow,” Chief Executive of Cineworld Mooky Greidinger claimed the theaters “didn’t have the goods” to remain open, according to an article published Monday by The New York Times.

“Unfortunately, we cannot operate without a proper flow of products and sadly, you, like I, have seen audience numbers dwindle to tiny and unsustainable levels and the delay of Bond has been a huge blow,” Greidinger reportedly told Great Britain staff in a memo, according The New York Times.

Cineworld reported a $1.6 billion loss for the first half of 2020 in September, the outlet reported. The company is closing down 663 movie theaters in the U.S. and Britain due to the delays from coronavirus. There will be roughly 100 theaters left open in countries such as Poland, the Czech Republic, Slovakia, Hungary, Bulgaria and Romania, The New York Times reported. (RELATED: AMC Switches To Policy Requiring Masks After Claiming It Didn’t Want To Be Political)

The company’s theaters in the U.S. and Britain reportedly brought in 90% of the company’s revenue in the last year.

It is unknown when Cineworld will reopen the theaters. Greidinger claimed that it “might be in two months, it might even a little bit longer.”