45,000 Jobs At Risk As Regal Owner Cineworld Closes All U.S. And U.K. Cinemas

https://www.forbes.com/sites/roberthart/2020/10/05/45000-jobs-at-risk-as-regal-owner-cineworld-closes-all-us-and-uk-cinemas/#332159851361 

 

The group’s decision to suspend U.K. and U.S. operations follows news that the latest James Bond film, No Time To Die, has been delayed a second time until April 2021; it was originally slated to appear in cinemas in April this year. 

Operations will be suspended from Thursday, a move the company pins on “an increasingly challenging theatrical landscape and sustained key market closures due to the Covid-19 pandemic.” 

The company says its decision will affect some 45,000 workers.

Cineworld’s share price sank by as much as 60% at the start of trading on Monday, the Guardian reports.