Britain’s biggest cinema chain is the latest victim of the pandemic.
After an abundance of speculation over the weekend Cineworld has confirmed they will be temporarily ceasing operations from Thursday (October 8).
The move comes as Cineworld reports £1.2 billion in losses as COVID 19 continues to ripple the entertainment industry. The folding of Cineworld will put 45,000 jobs around the world at risk, as 663 cinemas unfortunately close the curtain.
Cineworld, which celebrated its 25-year anniversary this year, has gone to major efforts to keep business ticking. Cinema tickets were reduced to £4 and unlimited passes were offered at a bargain £15.70 a month in the UK.
Delay of James Bond
No Time to Die, the latest film in the iconic James Bond franchise, was of the most highly anticipated showings for 2020 and one that cinemas around the world was highly relying on.
However, through COVID 19, the film which was originally set to be released in April was pushed back to November. On Friday, the James Bond franchise announced the film had been further postponed until April 2021, coming as the final straw for Cineworld’s troubling finances.
Speaking to the BBC, Mooky Greidinger Chief Executive of Cineworld said: “We did everything in our power to support safe and sustainable reopenings in all of our markets.
“Cineworld will continue to monitor the situation closely and will communicate any future plans to resume operations in these markets at the appropriate time, when key markets have more concrete guidance on their reopening status and, in turn, studios are able to bring their pipeline of major releases back to the big screen.”
In more uplifting news, the most eco-friendly attractions around the world have been announced.
