World News – GB – Cineworld Chain, owner of US Regal, closes theaters due to postponement of « No Time To Die »

In response to MGM No Time to Die’s departure from the Thanksgiving Hallway over Easter weekend 2021, Cineworld is closing 128 of its UK and Ireland cinemas as well as its US Regal Channel as of next week according to reports

This is the first massive exposure victim during the pandemic It remains to be seen how long the shutdown will last, and studio sources say it’s just bad for overall consumer confidence in cinema Overall, this sends an erratic message about whether movie theaters are really open or closed To date, none of the Regal establishments in New York or Los Angeles have opened

The Sunday Times in the UK made headlines in its tonight edition, which announced the shutdown of Cineworld in the UK, which is expected to impact 5,500 jobs

Variety reports that Regal is also shutting down cinemas it has reopened from its 543 theaters.The deadline has contacted Regal for confirmation of this news, but the channel is silent on the radio Among key people responsible for the distribution of studio we contacted tonight none of them have heard from their Regal contacts or from Cineworld boss Mooky Greidinger aboutS part of the channel is shutting down

In the US, Regal is the # 2 channel with 7,155 screens in 543 theaters in 42 states They closed in mid-March due to the pandemic and reopened where they could just before Warner Bros’ release. from Tenet The newly renovated Irvine Spectrum is one of the highlights of Regal which has reopened Orange County

Cineworld, in its recent 6-month earnings filing ending June 30, released the following grim statement as they compete for $ 8 billion in debt: « There can be no certainty as to the future impact of COVID-19 on the Group If governments were to tighten restrictions on social gatherings, which could therefore force us to re-close our holdings or further postpone film releases, this would have a negative impact on our performance financial resources and would likely require the need to raise additional liquidity We have underlined the potential impact that this could have on the Group in our going concern statement in this document « 

It’s not official yet if Disney is dislodging Pixar’s soul from the November 20 release date, but we hear Universal is sticking with its November 25 release of The Croods: A New Age from Dreamworks Animation. , which should be a shortened window release so the film can debut during the year-end break on PVOD These are technically the next big movies, but there are plenty of entries on the schedule this month, including including 101 Studios’ War With Grandpa Friday, Freestyle’s 2 Hearts and Open Road’s Honest Thief on October 16 and 20th Century, The Empty Man, on October 23

Regal and Cinemark don’t read shortened window versions, but Uni has a deal with AMC Cineworld boss Mooky Greidinger is a tough guy when it comes to minimizing the window I’ve heard that the major studios had requested to do with its channel due to the fact that the box office was unpredictable, and allowing a shorter bridge for movies in the house while keeping theaters alive Cineworld does not move

Cineworld, No Time to Die, Regal Cinemas, James Bond