LONDON (UK) – Cineworld, which is the second-biggest cinema operator in the world, is slated to close all its screens in Britain and Ireland in the coming week, the Sunday Times reported.
The report said that the Regal cinema owner wrote to Prime Minister Boris Johnson and culture minister Oliver Dowden, saying that the industry is not viable any more as studios have decided to postpone big-budget films.
The latest blockbuster to be postponed is the new James Bond flick, “No Time To Die”.
Cineworld has 128 theatres and 1,180 screens in Britain and Ireland.
The report said Cineworld is slated to announce its closure plan, which jeopardises 5,500 jobs, on Monday.
“If Governments were to strengthen restrictions on social gathering, which may therefore oblige us to close our estate again or further push back movie releases, it would have a negative impact on our financial performance and likely require the need to raise additional liquidity,” the firm said last month.
Movies such as “Black Widow” and “West Side Story” have also been postponed.
Efforts to woo audiences make into movie halls have proved disappointing.