Cineworld To Close All Its 128 UK Sites After No Time To Die’s Delay
The Sunday Times front-page reports that the second biggest Cinema chain in the world, is to shut all 128 of it’s UK sites as early as this week.
This breaking news announcement comes off the back of James Bond: No Time To Die being pulled from schedules late Friday night, now releasing in April 2021.
This bitter blow was always expected to devastate an already struggling industry, after previously being tainted as the ‘Saviour for UK Cinema’.
Boris Johnson has been Contacted regarding Cineworld’s UK closure
Reuters reports that the “company is writing to Boris Johnson and Culture Minister Oliver Dowden” to say the industry has become unviable.
On Friday Dowden celebrated the first wave of funding in conjunction with the BFI to help support independent cinemas across the UK.
What help, if any, they may get from the UK government remains to be seen.
Pre-Coronavirus Cineworld was already $2 Billion in Debt
Read more: Cineworld Loses £1 Billion Due To COVID-19
A company that pre coronavirus was already $2 billion in debt, & has huge international interests is most likely towards the back of the queue.
With almost 5,500 staff expected to be made redundant in the coming days with potential incentives to return to the company next year it’s a huge blow for the staff & employees.
Cineworld PLC also has Picturehouse Cinemas within the UK but at the current time we’ve no word on whether this subsidiary or their American counterparts are affected.
We’ll keep you posted on this news as it comes.
Having a quick look across Twitter searching @Cineworld sees a range of current staff from Managers to Team Members furious at finding out the news on the front page of The Sunday Times, before the company itself.
What do you make of this news?
Are you sad and worried after hearing about Cineworld closing its UK sites due to lack of blockbusters and Coronavirus?
Let us know your thoughts in the comments below.