2nd largest cinema chain in US considers closing 543 theaters
Published: 09:43 PM, 5 October 2020 Updated: 03:10 PM, 10 October 2020
Regal Cinemas, the second-largest theater chain in the United States, is considering closing all 543 of its theaters in the country due to continued revenue losses from the COVID-19 pandemic.
Regal’s British parent company Cineworld said Sunday it is considering the move. However, “fifty Regal locations are expected to keep operating during weekend hours.”
“We can confirm we are considering the temporary closure of our UK and US cinemas, but a final decision has not yet been reached. Once a decision has been made, we’ll update all staff and customers as soon as we can,” Cineworld tweeted.
In the United States, Regal is the No. 2 chain after AMC 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 prior to Warner Bros.’ release of “Tenet.”
Deadline, a leading online entertainment industry news site, reported Sunday that the local cinema was hit by not only fewer viewers who are hesitating to see movies but also studios who continue to delay the release of big films amid the coronavirus pandemic.
The development came shortly after Universal and MGM announced that the release of the latest James Bond film, “No Time to Die,” would be postponed until April 2021. Large chains such as Regal count on blockbusters like the Bond films to sustain operations.